17. Mike received the following interest payments this year. What amount must Mike include in his gross income (for federal tax purposes)? Bond Interest $1,450 General Motors City of New York State of New Jersey U.S. Treasury 900 1,200 850 A. $2,650. B. $2,350. C. $2,050. D. $2,300. E. $3,500. 18. This year, Fred and Wilma sold their home (sales price $750,000; cost $200,000). All closing costs were paid by the buyer. Fred and Wilma owned and lived in their home for 20 years. How much of the gain is included in gross income? A. $550,000. B. $300,000 C. $250,000. D. $50,000. E. None. 19. This year Larry received the first payment from an annuity that promises to pay him $3,000 per month for the rest of his life. The IRS tables indicate that given Larry's age, he should expect to receive 310 monthly payments. The cost of the annuity to Larry was $620,000. How much of the first $3,000 payment should Larry include in gross income