John has the following sources of income and deductions: Employment income $35,000 Interest income 5,000 Taxable dividend income 7,000 5,000 Taxable capital gain Allowable capital loss 12,000 Subdivision e deductions 2,000 What is John's Net Income for Tax Purposes? Select one: O a. $47,000 b. $49,000 O c. $45,000 O d. $40,000