On March 1, 2017, Lana Leases and Places in Service

Multiple Choice

On March 1, 2017, Lana leases and places in service a passenger automobile. The lease will run for five years and the payments are $500 per month. During 2017, she uses her car 60% for business and 40% for personal activities. Assuming the dollar amount from the IRS table for auto leases is $70, determine Lana's gross income attributable to the lease.

A) $0
B) $35
C) $59
D) $70
E) None of the above