Richard, age 19, is a full-time student at State College and a candidate for a bachelor's degree. During 2004, he received the following payments:
State scholarship for ten months (tuition and books): $4000
Loan from college financial aid office: $1,750
Cash support from parents: $2,500
Cash dividends: 2,500
Cash prize awarded in a contest: 1,250 Total: $14,000
What is Richard's adjusted gross income for 2004?
e. None of the above.
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