5
QuizMultiple Choice

Sources of Income

Question 5 • SHS Alt Personal Finance - 2021

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
A
$58,475
B
$59,730
C
$60,985
D
$62,080

Explanation

Add Lenny’s earned income, passive income, and capital gains to find his total gross income: $58,475 + $1,255 + $2,350 = $62,080. Therefore, the correct choice is $62,080.

AI-written and checked against the verified answer.

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