David is a college professor who does some consulting work on the side. He uses...

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Accounting

David is a college professor who does some consulting work on the side. He uses 25% of his home exclusively for the consulting practice. He is single and 63 years old. His AGI (without consideration of consulting income) is $40,500. Other information follows:
Income from consulting business$ 4,075Consulting expenses other than home office1,560Total costs relating to home:Interest and taxes6,545Utilities1,530Maintenance and repairs465Depreciation (business part only)1,575
Required:
Calculate Davids AGI.

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