The capital account balances for Donald & Hanes LLP on January 1, 2021, were as follows:
Donald, capital $200,000
Hanes, capital $100,000
Donald and Hanes shared net income and losses in the ratio of 3:2, respectively. The partners agreed to admit May to the partnership with a 35% interest in partnership capital and net income. May invested $100,000 cash, and the bonus method is used. What is the balance of Donald's capital account after the new partnership is created?