Question
Lane is single and has two dependent children. Financial records show the following items in the current year: Gift from a friend $12,000 Dividends received
Lane is single and has two dependent children. Financial records show the following items in the current year:
| Gift from a friend | $12,000 |
| Dividends received on stock | $1,200 |
| Price won in state lottery | $1,000 |
| Salary from employer | $35,000 |
| Child support received from ex-spouse | $6,000 |
| Alimony received from ex-spouse | $12,000 |
How much is Lane's adjusted gross income for the current year?
Question 4 options:
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a. $47,000.
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b. $48,200.
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c. $49,200.
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d. $67,200.
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
6th Edition
125991965X, 978-1259919657
