Determining share of pre-bonus income

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Reference no: EM13152053

The partnership contract for Cole & Dane LLP provides that Cole is to receive a bonus of 20% of net income (after the bonus) and that the remaining net income is to be divided equally. If the partnership income before the bonus for Year 2006 is $57,600, Cole's share of the pre-bonus income is?

Reference no: EM13152053

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