If A is the total capital of a partnership before the admission of a new partner, B is the total capital of the partnership after the new partner’s investment, C is the amount of the new partner’s investment, and D is the amount of capital credit to the new partner, then there is

a. A bonus to the new partner if B = A + C and D < C.

b. Goodwill to the old partners if B > (A + C) and D = C.

c. Neither bonus nor goodwill if B = A – C and D > C.

d. Goodwill to the new partner if B > (A + C) and D < C.