Question: Exercise 11-1 (Algorithmic) (LO. 2) Valentino is a patient in a nursing home for 54 days in 2021. While in the nursing home, he incurs

Exercise 11-1 (Algorithmic) (LO. 2) Valentino is a patient in a nursing home for 54 days in 2021. While in the nursing home, he incurs total costs of $25,920. Medicare pays $15,552 of the costs. Valentino receives $28,512 from his long-term care insurance policy, which pays while he is in the facility. Assume that the Federal daily excludible amount for Valentino is $400. Of the $28,512, what amount may valentino exclude from his gross income

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