Using it's concept, it is found that his net worth is given by:
C) $1,052,662
What is the net worth of an individual?
It is given by the sum of the individual assets subtracted by the sum of it's liabilities.
In this problem:
- The sum of his assets is of $178,000 + $1,055,000 = $1,233,000.
- The sum of his liabilities is of $145,908 + $34,430 = $180,338.
Hence, his net worth is given by:
Net worth = $1,233,000 - $180,338 = $1,052,662.
Which means that option C is correct.
More can be learned about net worth at https://brainly.com/question/27218751
