Professor Brooke works at City University. Recently, to get faculty to answer emails and phone calls from students over the weekend, City University purchased cell phones for all professors. The University pays $1,000 a year for the phones, and has determined that professors will use them 50% of the time for personal purposes. Because of this new university provided cell phone, Professor Brooke cancelled his old cell phone policy, saving him $300 a year. How much gross income must Professor Brooke report? 

Answer rating: 100% (QA)

To determine the gross income that Professor Brooke must report we need to consider the value of the ... View the full answer