Last year Lenny had an annual earned income of $58,475. He also had passive income of $1,255, and capital gains of $2,350. What was Lenny’s total gross income for the year?
Question
Answer:
Answer:Lenny's total gross income for the year is US$ 62,080Step-by-step explanation:1. Let's check all the information provided to answer the question:Annual income earned by Lenny = US$ 58,475Passive income = US$ 1,255Capital gains = US$ 2,3502. 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$ 2,350Total gross income for the year = US$ 62,080
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