accounting homework prob

| November 24, 2016

Lori purchased educational savings bonds to help
finance her son’s education. She paid $4,000 for the
bonds. The bonds matured at $6,000, and the son
used $2,500 to pay his tuition for the first semester.
The son quit school after one semester and Lori
used the remaining money to buy her son a car. If
Lori’s AGI is $55,000, how much interest is included
in her gross income?

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