Jack Jones, age 35, is single and has no dependents. At the beginning of 2009, Jack started his own excavation business and operated the business as a sole-proprietor. During all of 2009, Jack had the following items in connection with his business: Gross income from customers $612,000 Building rental expenses $ 45,000 Office expenses 2,500 Utilities 4,000 Secretarial salary 34,000 Salaries, equipment operators 42,000 Payroll taxes 7,000 Equipment operating costs 21,000 Additionally: Purchased a new front-end loader on January 15, 09 for $260,000. Purchased a new dump truck on January 18, 09 for $50,000 During 2009, Jack had the following additional items: Interest income $10,000 Dividend income from Exxon 9,500 On October 8, 2009, Jack inherited IBM stock from his aunt Mildred. According to the data provided by the executor of her estate, the stock was valued for estate purposes at $110,000. Mildred had purchased the stock 9 months before death for $95,000. Jack sells the stock on December 1, 2009 at a selling price of $115,000. On October 10, 2009, Jack purchased and placed in service a new Toyota auto (100% business use). The vehicles weight was 4,500 pounds and cost him $45,000. Jack did not elect bonus depreciation available to him as a result of the auto purchase. REQUIRED: Compute Jacks 2009 adjusted gross income, assuming that he selected the front-end loader as the Sec 179 expensing election item. Also assume that he did not elect out of the bonus depreciation available to him on qualifying acquisitions, other than the auto. (Assume 7 year life on depreciable assets.)