Five years ago, Steve and his brother Eric formed Kennedy Corp., a golf apparel manufacturing corporation. At that time, Steve contributed $ 330000 to the corporation in exchange for 50 % of its stock. During the current year, Steve needed some cash to purchase a golf course so he sold a third of his interest in Kennedy Corp. for $ 81000 . He also sold stock in the following companies for the amounts indicated:Corporation Sales Proceeds Adjusted Basis When Acquired IBM $23,000 $19,000 52 months ago Microsoft 33,000 46,000 18 months ago Tidal Radio 39,000 16,000 7 months ago Wavetable 26,000 34,000 4 months ago During the year Steve hired a collection agency to collect a $ 15,000 loan he made to an old friend, which was due in full on January 1 of the current year. The agency found no trace of his friend. Also during the year, CSR Corporation, in which he owns stock, went bankrupt. His investment was worth $ 97,000 on January 1, he purchased it six years ago for $ 103,000 , and he expects to receive only $ 6,000 in redemption of his stock. Finally, Steve's salary for the year was $ 122,000 for