2.5 points QUESTION 11 Pat is a CPA. In the current year, he spent 1,200 hours working in his accounting practice and earned a net income of $300,000. He also spent 1,250 hours materially participating in various real estate projects. His net loss from these projects was $60,000. Pat also has gambling losses of $10,000 and gambling income of $7,000 for the current year. Ignoring self-employment taxes, what is Pat's adjusted gross income (AGI) for the year? $247,000 - I 5307.000 $240.000 S237 000 hp