Nicole is a student at USB Law;she receives a $52,000 scholarship for 2013.Of the $52,000,$40,000 is used for tuition,$5,000 is used for books,and $7,000 is used for room and board.How much of the scholarship is taxable income for Nicole in 2013?
A) $52,000
B) $40,000
C) $45,000
D) $7,000
E) $12,000
Correct Answer:
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