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4. During the current year, Kay received interest on US Treasury Bills (T-Bills) of $4,000; and interest on the refund of her state income tax

4. During the current year, Kay received interest on US Treasury Bills (T-Bills) of $4,000; and interest on the refund of her state income tax of $200. The total amount of interest that Kay must include in her gross income is: a. $4,200 b. $4,000 c. $200 d. $0

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