Last year Lenny had an annual earned income of $58,475. He also had passive income of $1,255, and capital gains of $2,350. What was Lenny’s total gross income for the year?
a.
$58,475
b.
$59,730
c.
$60,985
d.
$62,080
Please select the best answer from the choices provided
A
B
C
D
Answers
Answered by
3
Answer:
D on edgunuity
Step-by-step explanation:
Answered by
2
Given:
Annual Income = $58,475.
Passive Income = $1,255
Capital Gains = $2,350.
To find:
Lenny’s total gross income for the year
Solution:
The profit made from an investment is referred to as capital gain, whereas passive income is defined as an income obtained with relatively little daily work.
Therefore,
Total Annual Income = Annual Income + Passive Income + Capital Gains
= 58,475 + 1255 + 2350
= 62080
Answer: Lenny’s total gross income for the year is d. $62,080
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