Jarvie loves to bike. In fact, he has always turned down better-paying jobs to work in bicycle shops where he gets an employee discount. At Jarvie's current shop, Bad Dog Cycles, each employee is allowed to purchase four bicycles a year at a discount. Bad Dog has an average gross profit percentage on bicycles of 25 percent. During the current year, Jarvie bought the following bikes: Description Specialized road bike Rocky Mountain mountain bike Trek road bike Yeti mountain bike Retail Price Cost $ 6,500 $ 4,450 5,000 3,700 3,000 2,700 5,800 3,960 Employee Price $4,550 4,000 2,100 4,640 Problem 12-48 Part a (Al a. What amount is Jarvie required to include in taxable income from these purchases? Amount to be included