55.

Ray, a CPA, received a damage award in a defamation suit against a former client who claimed that he was incompetent tax accountant. Ray received $200,000 for damages to his professional reputation, $500,000 for damages for lost income, and $100,000 in punitive damages, and $100,000 for emotional distress due to damage to his personal reputation. Ray must include in his gross income as a damage award: O A)$100,000 O B)$500,000. O C)$600,000. O D) $800,000. O E) $900000