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What is umberto amount realized

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Umberto wants to buy Kevin's truck. Because Umberto has no cash and cannot obtain a loan to finance the purchase, Kevin agrees to let Umberto pay him $320 a month for 6 months. In addition, Umberto agrees to put a new roof on Kevin's house as part of the truck purchase. Umberto estimates that his cost of reroofing the house will be $750, although he would have charged Kevin $3,500 if Kevin were a paying customer.

Problem 1: What is Umberto's amount realized?

Group of answer choices

Option 1: $5,420

Option 2: $1,920

Option 3: $2,500

Option 4: $4,420

Reference no: EM132966050

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