Determine the taxpayer's current-year (1) economic income and (2) gross income for tax purposes from the following events: If an amount is zero, enter "0". a. Ja-ron's employment contract as chief executive of a large corporation was terminated, and he was paid $500,000 not to work for a competitor of the corporation for five years.. b. Elliot, a six-year-old child, was paid $5,000 for appearing in a television commercial. His parents put the funds in a savings account for the child's education. Economic Income 500,000 Gross Income for Tax Purposes 500,000 5,000 5,000 C. Valery found a suitcase that contained $100,000. She could not determine who the $ 100,000 100,000 owner was. d. Winn purchased a lottery ticket for $5 and won $750,000. 750,000 X 750,000 e. Larry spent $1,000 to raise vegetables that he and his family consumed. The cost of the vegetables in a store would have been $2,400. 1,400 V 1,400 X f. Dawn purchased an automobile for $1,500 that was worth $3,500. The seller was in desperate need of cash. 2,000 V 2,000 X