Question

Last year Lenny had an annual earned income of $58,475. He also had passive income of $1,255, and capital gains of $2,350. What was Lenny’s total gross income for the year?

Answer 1

D is the correct answer on Edgen.

Explanation:

Took the test and got 100%.

Answer 2

Lenny's total gross income for the year is US$ 62,080

Explanation:

1. Let's check all the information provided to answer the question:

Annual income earned by Lenny = US$ 58,475

Passive income = US$ 1,255

Capital gains = US$ 2,350

2. What was Lenny’s total gross income for the year?

For calculating the total gross income, we add up the annual income, the passive income and the capital gains, this way:

Total gross income for the year = US$ 58,475 + US$ 1,255 + US$ 2,350

Total gross income for the year = US$ 62,080