Distributive share and guaranteed payment

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Reference no: EM13152695

Yee manages Huang real estate, a partnership in which she is also a partner. She receives 40% of all partnership income before guaranteed payments, but no less than $80,000 per year. In the current year, the partnership reports $400,000 in ordinary income. What are Yees distributive share and her guaranteed payment?

Reference no: EM13152695

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