Question
upstudy study bank question image url

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.

Solution

Sign in to Unlock Answers for Free!

A Learning Platform Trusted by Millions of Real Students and Teachers.

star-icon Unlock

Answered by UpStudy AI and reviewed by a Professional Tutor

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. \( \$ 62,080 \)

Related Questions

Latest Economics Questions

Try Premium now!
Try Premium and ask Thoth AI unlimited math questions now!
Maybe later Go Premium
Study can be a real struggle
Why not UpStudy it?
Select your plan below
Premium

You can enjoy

Start now
  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to Answer and Solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic

Totally free but limited

  • Limited Solution
Welcome to UpStudy!
Please sign in to continue the Thoth AI Chat journey
Continue with Email
Or continue with
By clicking “Sign in”, you agree to our Terms of Use & Privacy Policy