Four years ago, Lyle Mercer was injured in a railroad accident and sued the railroad...
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Accounting
Four years ago, Lyle Mercer was injured in a railroad accident and sued the railroad for damages. The jury required the railroad to pay $ compensation for his physical injuries, $ for lost wages during his long recuperation, and $ punitive damages. Assume the taxable year is Required: How much of the $ settlement is included in Lyle's gross income? 
Four years ago, Lyle Mercer was injured in a railroad accident and sued the railroad for damages. The jury required the railroad to pay
$ compensation for his physical injuries, $ for lost wages during his long recuperation, and $ punitive
damages. Assume the taxable year is
Required:
How much of the $ settlement is included in Lyle's gross income?
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