Jake, an individual calendar year taxpayer, incurred the following transactions. Gross receipts $800,000 Less: Cost of sales (300,000) Net business income $500,000 Capital gain $30,000 Capital loss (90,000) (60,000) Total income $440,000 Assuming that any error in timely reporting these amounts was inadvertent, how much omission from gross income would be required before the six-year statute of limitations would apply? a

. More than $110,000. b. More than $132,500. c. More than $207,500. d. The six-year rule does not apply here.