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 .