The partnership of Lovett and King allocates profits based on capital balances and service. Lovett has a capital balance of $50,000, and King has a capital balance of $35,000. King devotes more time by acting as operations manager of the business. The first allocations of profits are based on capital balances where each partner receives 8% of his capital balance. The next $50,000 is based on service. King receives $30,000 of this amount and Lovett receives $20,000. Any additional profit or loss is allocated equally. If the partnership earns $90,000, how much will be allocated to King?

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