Question: Using a graduate's current year tax data below, what is the adjusted gross income: Wages = $55,000 Ordinary dividends = $1,000 Interest on municipal bonds

Using a graduate's current year tax data below, what is the adjusted gross income: Wages = $55,000 Ordinary dividends = $1,000 Interest on municipal bonds = $2,000 Traditional IRA contribution = $3,000 Short term capital gain = $ 9,000 Alimony paid = $20,000

A. $40,000

B. $42,000

C. $88,000

D. $80,000

E. $46,000

If possible, explain how you calculated the answer, please and thanks

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