Mary and Philip Purchased an Apartment Building in January 2011

question 89

Multiple Choice

Mary and Philip purchased an apartment building in January 2011, which they actively manage. During the current year, the apartment building generates a loss of $35,000. Their other income is as follows:

$$\begin{array} { l c } \text { Sal aries } & \$ 80,000 \\\text { Dividends and interest } & 8,000 \\\text { Loss from limited partnership acquired in } 2009 & ( 4,000 ) \end{array}$$
What is Mary and Philip's adjusted gross income?

• A)$59,000
• B)$63,000
• C)$84,000
• D)$88,000
• E)None of the above.

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Definitions:

Variance

A measure of the dispersion or spread of a set of values, indicating how much the values differ from the mean of the set.

Deviations

Differences between values in a data set and a central point, typically the mean of the set.

Interquartile Range

A measure of statistical dispersion, which is the spread between the first and third quartiles of a dataset, effectively capturing the middle 50%.

Variance

A measure of the dispersion of a set of values, calculated as the average of the squared deviations from the mean.