Barry and Connie Rawles, husband and wife, are both age 34 and have two sons. Barry earned $51,000 and Connie earned $45,000 during 2019. Barry and Connie paid $4,200 state income taxes, $12,000 federal income taxes, $5,500 property taxes, $14,600 to First Presbyterian Church, $600 to needy families, $6,400 interest on their home mortgage, and $6,800 medical expenses. In addition, they had the following transactions:

a. ‘They sold their personal residence for $170,000. Their basis in the residence was $104,000. They incurred $7,000 in selling expenses. They purchased a new residence six months later for $220,000.

b. Connie sold for $40,000 property she had inherited from her father in 2014. Her father’s basis in the property was $15,000 and the fair market value on the date of death was $30,000.

c. They sold for $6,000 business property which they had acquired as a gift in 2016. The basis to the donor was $7,500 and the fair market value on the date of the gift was $7,000.

d. They exchanged 100 shares of Conway Corp. common stock, with a basis of $3,000, for 75 shares of Conway Corp. nonvoting common stock with a fair market value of $10,000.

Determine Barry and Connie's lowest taxable income. Treat all income as ordinary income.