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Kevin is the financial manager of Levingston BMW. The shop allows employees to purchase up to two vehicles per year at a discount. Levingstons average

Kevin is the financial manager of Levingston BMW. The shop allows employees to purchase up to two vehicles per year at a discount. Levingstons average gross profit percentage is 15%. This year Kevin purchased a 530 model and a new M3.

Model FMV Dealer cost Employee Price
530 $63,800 $50,800 $54,400
M3 $71,000 $60,800 $57,800

What amount must Kevin include in income?

Multiple Choice

$2,950.

$2,550.

$22,000.

$0.

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