Corporate Tax Question

Wonder, Inc. had 2018 taxable income of $200,000 exclusive of the following:

Gain on sale of land used in business	$25,000
Loss on sale of machinery used in business	(13,000)
Loss on sale of securities held 3 years	(4,000)
Loss on sale of securities held 3 months	(3,000)

On what amount of taxable income should Wonder compute tax?

1. $200,000
2. $202,500
3. $205,000
4. $212,000

Please explain how to arrive at the answer