1. Nora receives a salary of $55,000 during the current year. She sells some land that she held as an


1. Nora receives a salary of $55,000 during the current year. She sells some land that she held as an investment at a
loss of $15,000 and some stock at a gain of $10,000. Nora’s adjusted gross income is:
a. $50,000
b. $52,000
c. $55,000
d. $62,000
e. $65,000


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