Alex is single and has no dependents. He is self-employed and his gross income is $150,000. He pays $10,000 for medical insurance for himself. He also incurs $40,000 in doctor bills during the year that are not covered by his insurance. And he donates $12,000 to charity. (Pretend there are no other deductions -- no QBI deduction and no deduction for self-employment taxes.) Taking into account the 10%-of-AGI floor that applies to itemized medical expenses, what is Alex's taxable income?

$88,000.

$102,000.

$103,000.

$137,600.