An individual taxpayer reports the following items for the current year:

Ordinary income from partnership A, operating movie

Theater in which the taxpayer materially participates--------------------------------------$70,000

Net loss from partnership B, operating an equipment rental

Business in which the taxpayer does not materially participate---------------------------(9000)

Rental income from building rented to a third party------------------------------------------7000

Short-term capital gain from sale of stock--------------------------------------------------------4000

What is the taxpayer's adjusted gross income (AGI) for the year?

A.$70,000

B.$72,000

C.$74,000

D.$77,000