James, a single taxpayer with no dependents, works as an attomey for a major recording company in New York City James is also a very talented musician and performs at local gigs. In 2017, James was paid $12,500 for performing at local wedding events In 2017, James incurred and paid the following expenses in connection to his musical performances, mortgage interest - $1,500, real estate taxes . $600, supplies - $950, local transportation - $1,200, equipment rental - $750. James' 2017 AGI before taking his musical activity into consideration is $75,000 Assuming the musical activity is deemed a trade or business, what is John's 2017 AGI? a $78,250 b. 586,250 C. 582.500 0.573,250 e. None of the above