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

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 from the purchase of the automobile

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