Required information Problem 12-47 (LO 12-3) (Algo) [The following information applies to the questions displayed below.] 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 $323 per month. Problem 12-47 Part a (Algo) If LaMont receives one pass (worth $323 ) each month, how much of this benefit must he include in his gross income each year? Required information Problem 12-47 (LO 12-3) (Algo) [The following information applies to the questions displayed below] 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 $323 per month. roblem 12-47 Part b (Algo) If the company provides each employee with $323 per month in parking benefits, how much of the parking benefit must LaMont clude in his gross income each year