Gary, Peter, and Chris and have capital balances of $26,000, $38,000, and $30,000, respectively. As per the partnership agreement, Gary gets a profit share of 2/9; Peter gets 4/9; and Chris gets 3/9. The partnership agrees to pay $20,000 as the final settlement to Gary. How much bonus does Peter receive as a result of this transaction? (Do not round intermediate calculations and round the final answer to the nearest dollar.)

A. $2,667

B. $2,571

C. $3,429

D. $3,333

Answer rating: 100% (QA)

B 2571 Gary Capital balance 26000 Settlement amount for Gary 20000 As revised ... View the full answer