M and N are partners in the ratio of 5 ∶ 3. P is admitted as a partner and he takes \(\frac{1}{5}\)^th of M's share. N gives \(\frac{1}{8}\) from his share to P. What is the New Profit Sharing Ratio?

2 ∶ 1 ∶ 1

2 ∶ 2 ∶ 1

4 ∶ 2 ∶ 1