2) In the year of 2020, Jay has a self-employed business he owns and also works at a construction company. He also owns a small apartment that he rents out to tenants. Jay incurred the following expenses in 2020: $6,000 in social security and medicare tax expenses. These expenses are part of his payroll tax expense on his schedule C. $4,000 in self-employment tax Had $3,100 in social security and $725 for Medicare taxes withheld from his paycheck from his paycheck at the construction company Paid $30,000 in local real estate taxes on his rental property which he owns Paid $15,000 in local real estate taxes for his principal residence From the listed items above, how much can Jay deduct as for AGI? Please show your work. a) $40,000 b) $18,000 c) $32,000 d) $12,000 e) $38,000