In the current year, Norris, an individual, has $70,000 of ordinary income, a Net Short Term Capital Loss (NSTCL) of $8,000 and a Net Long Term Capital Gain (NLTCG) of $4,800. From his capital gains and losses, Norris reports:

Multiple Choice

an offset against ordinary income of $3,000 and a NSTCL carryforward of $200.

an offset against ordinary income of $8,000.

an offset against ordinary income of $4,800 and a NSTCL carryforward of $3,200.

an offset against ordinary income of $3,000 and a NSTCL carryforward of $3,200.