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
Ask by Rodriquez Campbell. in the United States
Mar 11,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
Lenny's total gross income for the year is \$62,080.
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Beyond the Answer
To calculate Lenny's total gross income, we need to sum up his earned income, passive income, and capital gains. So, his total gross income is: \[ 58,475 + 1,255 + 2,350 = 62,080 \] The best answer from the choices provided is: d. \( \$ 62,080 \)