Percy Peterson received a grant from the Department of Education for a special research project on education. He received $500 per month for the period May 1 to December 31. Percy is not a candidate for a degree. fte amount of the fellowship he may exclude from income for the tax year is:
A) $0
B) $1,600
C) $2,400
D) $3,000
E) $4,000
Correct Answer:
Verified
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