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QUESTION
Hugh Leastmoon has an annual income of $75,000 a year. He pays $25,000 in taxes, and spends another $15,000 on his home, car, food, and other...
Hugh Leastmoon has an annual income of $75,000 a year. He pays $25,000 in taxes, and spends another $15,000 on his home, car, food, and other "necessities." Last year, he decided to really enjoy his annual vacation, so he spent $5,000 to go skiing in Austria. What was Hugh's discretionary income last year?
