Kevin is a candidate for an undergraduate degree at a local university. During 2010, he was granted a fellowship that provided the following:
Tuition $18,000
Books and supplies 2,000
Room and board 14,800
What amount can Kevin exclude from gross income in 2010?
1) $18,000
2) $20,000
3) $25,000
4) $32,800
5) $34,800