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Question a. answer should be between Included in or Exclude from Question b. answer should be yes or no Problem 5-35 (LO. 2) Leigh sued
Question a. answer should be between Included in or Exclude from
Question b. answer should be yes or no
Problem 5-35 (LO. 2) Leigh sued an overzealous bill collector and received the following settlement: $3,300 Damage to her automobile that the collector attempted to repossess Physical damage to her arm caused by the collector $15,000 Loss of income while her arm was healing $6,000 Punitive damages $80,000 a. Regarding Leigh's settlement, classify the following as either "Included in" or "Excluded from" her gross income. Included in/Excluded from Income Damage to her automobile that the collector attempted to repossess Physical damage to her arm caused by the collector Loss of income while her arm was healing Punitive damages b. Assume that Leigh also collected $25,000 of damages for slander to her personal reputation caused by the bill collector misrepresenting the facts to Leigh's employer and other creditors. Is this $25,000 included in Leigh's gross incomeStep by Step Solution
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