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Lyle and Louise Are Retired Living on Income from Their

Question 64

Multiple Choice

Lyle and Louise are retired living on income from their investments and Social Security benefits.During the current year,they receive the following:
Cash dividends on stock investments $28,000Interest on municipal bonds 5,000 Social Security benefits 18,000\begin{array} { l r } \text {Cash dividends on stock investments } &\$ 28,000 \\ \text {Interest on municipal bonds } &5,000 \\ \text { Social Security benefits } &18,000\end{array}
Lyle and Louise's adjusted gross income is:


A) $28,000
B) $33,000
C) $37,000
D) $48,000
E) $41,300

Correct Answer:

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