Barry and Connie Rawi1 husband and wife, arc both age 34 and have two sons. Barry earned $51,000 and Connie earned $45,000 during 2016. Barry and Connie paid $3, 200 state income taxes, $ 12,000 federal income taxes, $3, 500 property taxes, $4, 600 to First Presbyterian Church, $600 to needy families, interest on their home mortgage, and $6, 800 medical expenses. In addition, they had the following transactions: a. They sold their personal residence $170,000. Their basis in the residence was $104,000. They incurred $7,000 in selling expenses. They purchased a new residence six months later for $220,000. b. Connie sold for $40,000 property she had inherited from her father in 2011 Her fathers basis in the property was $15,000 and the fair market value on the date of death was $30,000. c. They sold for $6,000 business property which they had acquired as a gift in 2013. The basis to the donor was $7, 500 and the fair market value on the date of the gift was $7,000. d. They exchanged 100 shares of Conway Corp. common stock, with a basis of $3,000, for 75 shares of Conway Corp-nonvoting common stock with a market value of $10,000. Determine Barry and Connie's lowest taxable income. Treat all income as ordinary income