Bob is a general partner in AAA partnership. This year Bob received a 48,000 guaranteed payment from AAA, and his distributive share of AAAs ordinary business income was 93,200. Which of the following is most correct?

Bob will owe income tax on $141,200 and self-employed tax on $48,000.

Bob will owe income tax on $141,200 and self-employed tax on $93,200.

Bob will owe income tax and self-employed tax on $141,200.

Bob will owe income tax on $48,00 and self-employed tax on $93,200.