During the year, Walter had the following transactions:

|Salary |$80,000

|Capital loss from a stock investment |(4,000)

|Moving expense to change jobs |(10,000)

Received repayment of $10,000 loan he made to his brother in 2005 (includes interest of $1,000) 11,000

Property taxes on personal residence 2,000 Walter s AGI is:

a. $66,000

b. $68,000

c. $69,000

d. $78,000

e. None of the above

Do not copy from Chegg and give complete answer with explanation