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? a. $58,475 b. $59,730 c. $60,985 d. $62,080 Please select the best answer from the choices provide

Answer 1

D. d. 62,080

Explanation:

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Answer 2

Answer: d. $62,080

Explanation:

The capital gain is the profit earned from an investment whereas the passive income is the income generated by very minimal daily efforts.

Given: Annual income earned by Lenny =
`\$58,475`

Passive income =
`\$1,255`

Capital gain =
`\$2,350`

Now,
`\text{Total gross income =Annual income+Passive income+Capital gain}`

`=\$58,475+\$1,255+\$2,350=\$62,080`

Hence, Lenny's total gross income for the year = $62,080