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What is her gross income from the grant

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Reference no: EM133135819

Question - Hilda received a research grant from the University of Timberland in amounts of $10,000 for her time and $3,000 for related supplies and expenses. She purchased a $28,000 Audi the day after depositing the school's check. Hilda is a candidate for a PhD in philosophy and ethics.

a. What is her gross income from the grant?

b. Where did you locate your answer?

c. If you located a case, Administrative Interpretation(s) or IRC section, is the authority still valid?

Reference no: EM133135819

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