LaMont works for a company in downtown Chicago. The company encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $294 per month. rev: 09_23_2020_QC_CS-230013 Problem 12-47 Part a (Algo)

a. If LaMont receives one pass (worth $294) each month, how much of this benefit must he include in his gross income each year?