Question: Calculate the year-end capital account balance for Mary. This is the first year of the partnership. Mary's initial capital contribution was $15,000; her share of

Calculate the year-end capital account balance for Mary. This is the first year of the partnership. Mary's initial capital contribution was $15,000; her share of the partnership income was $3,000 of taxable income and $500 of tax-exempt interest income. The balance of Mary's capital account at the end of year one should be: Question 4Select one: a. $18,500 b. $15,000 c. $17,500 d. $18,000

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