What is Jacob’s Gross Income?
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Jacob has the following items of income in 2021:
He has a salary of $100,000
He sells land for $12,000. The original purchase price is $4,000
He receives interest from a City of London Bond of $7,000
What is Jacob’s Gross Income?
Group of answer choices
$100,000.
$107,000.
$112,000.
$115,000.
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