Carla is president of the new state university and is

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Carla is president of the New State University and is provided a house on campus so that she will be readily accessible in the case of an emergency and to entertain faculty, students, alumni, and prospective donors. In her contract, she is required to live in the house. The rental value of the residence would be $48,000 a year. Carla must include the $48,000 rental value of the home in her gross income.

Reference no: EM13476662

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