60.1K

Verified Solution

Link Copied!

Mary got divorced in June $2023.$ Sad. She asks for your help. She had $$50,000$ in wages; on Christmas Day she borrowed $$15,000$ to buy a car to use in her business $-$ it was interest free!; she received a $$2,000$ gift from her long$-$time friend, Claude; and her favorite aunt died in November, leaving Mary $$100,000$ as an inheritance. Her ex$-$husband agreed to pay Mary $$1,000$ monthly alimony, beginning July $1($and the first of the month each of the following months, for two years $-$ so she received $$6\mathrm{.}000$ total in $2023$ and $$24,000$ over the entire life of the alimony agreement.$)$ What is Mary's Adjusted Gross Income?

Mary got divorced in June $2023.$ Sad. She asks for your help. She had $$50,000$ in wages; on Christmas Day she borrowed $$15,000$ to buy a car to use in her business $-$ it was interest free!; she received a $$2,000$ gift from her long$-$time friend, Claude; and her favorite aunt died in November, leaving Mary $$100,000$ as an inheritance. Her ex$-$husband agreed to pay Mary $$1,000$ monthly alimony, beginning July $1($and the first of the month each of the following months, for two years $-$ so she received $$6\mathrm{.}000$ total in $2023$ and $$24,000$ over the entire life of the alimony agreement.$)$ What is Mary's Adjusted Gross Income?

$$65,000$

$$74,000$

$$58,000$

$$56,000$

None of the above answers are correct

Answer & Explanation Solved by verified expert

See Answer