Manny Kant is invested two passive activities: Categorical, LLC and Imperative, Inc. As of 1/1/2019 he had the following At-Risk Basis and Suspended Losses in each Investment: At-Risk Basis Suspended Losses under At-Risk Rules Suspended Passive Activity Losses Categorical, LLC $200,000 0 ($40,000) Imperative, Inc. $0 ($20,000 ($60,000) In addition Manny was allocated the following passive income (loss) from the investments in 2019 and 2020 2019 Income (loss) 2020 Income (loss) Categorical, LLC $40,000 $160,000 Imperative, Inc. $60,000 ($100.000) Required: What amount taxable income/(loss) will Manny recognize from his investment in these activities for 2020