63. CALCULATION OF TAXABLE INCOME-9 POINTS During the current year, Lori Petty, a single taxpayer, reported the following items: Salary Revenue from hobby Interest expense on original loan incurred to purchase home Taxes on home State income taxes paid Expenses of hobby $75,000 5,000 11,000 6.700 4,300 8,500 REQUIRED: Compute Lori Petty's taxable income for the year