last year lenny had an annual earned income of $58,475. he also had passive income of $1,255, and capital…

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?\na. $58,475\nb. $59,730\nc. $60,985\nd. $62,080\nplease select the best answer from the choices provided\no a\no b\no c\no d

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?\na. $58,475\nb. $59,730\nc. $60,985\nd. $62,080\nplease select the best answer from the choices provided\no a\no b\no c\no d

Answer

Explanation:

Step1: Define total gross income

Total gross income is sum of earned, passive and capital - gains income.

Step2: Set up the addition

Let $E = 58475$ (earned income), $P=1255$ (passive income), $C = 2350$ (capital - gains income). The total gross income $T=E + P+C$. $T=58475+1255 + 2350$

Step3: Perform the addition

First, add $58475$ and $1255$: $58475+1255=59730$. Then add the result to $2350$: $59730+2350 = 62080$.

Answer:

D. $62,080$