Edna and Walter are a retired couple living on income from their investments and Social Security benefits. During the current year, they receive the following:

Marvin and Simone's Income Information

Consulting fee from Burton Industries	$35,000
Interest on municipal bonds	7,000
Social Security benefits	20,000

Edna and Walter 's adjusted gross income is

$55,000.

$47,800.

$45,000.

$61,000.

$52,000.