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Ted works for Azure Motors, an automobile dealership. All employees can buy a car at the company's cost plus 2%. The company does not charge employees the $300 dealer preparation fee that nonemployees must pay. Ted purchased an automobile for $29,580 ($29,000 $580). The company's cost was $29,000. The price for a nonemployee would have been $33,900 ($33,600 $300 preparation fee). What is Ted's gross income, if any, from the purchase of the automobile

Respuesta :

Answer:

$240

Explanation:

The computation of the ted gross income is given below;

But before that the following calculations need to be done

The discount would be

= $33,600 - $29,580

= $4,020

There is a service of $300 out of which 80% represent the gross income

So the gross income would be

= 80% of $300

= $240

Hence, the gross income of Ted is $240