Required information [The following information applies to the questions displayed below.] LaMont works for a company...

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Required information [The following information applies to the questions displayed below.] LaMont works for a company in downtown Chicago. The company encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $305 per month. a. If LaMont receives one pass (worth $305) each month, how much of this benefit must he include in his gross income each year? Answer is complete but not entirely correct. Transit pass benefit to be included in gross income $ 420 X Required information [The following information applies to the questions displayed below.] LaMont works for a company in downtown Chicago. The company encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $305 per month. a. If LaMont receives one pass (worth $305) each month, how much of this benefit must he include in his gross income each year? Answer is complete but not entirely correct. Transit pass benefit to be included in gross income $ 420 X