(Answered) Question - marvin and simone are a retired couple living on

Accounting

Question - Marvin and Simone are a retired couple living on income from their investments and Social Security benefits. During the current year, they receive the following:

Consulting fee from Burton industries $35,000

Interest on municipal bonds 7,000

Social Security benefits 20,000

Calculate the Marvin and Simone's adjusted gross income?

a. $45,000

b. $47,800

c. $52,000

d. $55,000

e. $61,000

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