Question

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

Answer 1

Answer:

D  on edgunuity

Step-by-step explanation:

Answer 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