3. LO.1 Jarrod receives a scholarship of $18,500 from East State University to be used to pursue...

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3. LO.1 Jarrod receives a scholarship of $18,500 from East State University to be used to pursue a bachelor’s degree. He spends $12,000 on tuition, $1,500 on books and supplies, $4,000 for room and board, and $1,000 for personal expenses. Which of these amounts, if any, may Jarrod exclude from his gross income?

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