1. Mike Patel has the following sources of income and deductions:

   Gross Employment income $92,000

   Deductible Employment Expenses 12,000

   Interest income 6,000

   Taxable capital gains realized during the year 70,000

   Allowable capital losses suffered during the year 75,000

   Business loss suffered during the year 95,000

   What is Mikes Net Income for Tax Purposes?

   	a.	$93,000
   	b.	($9,000)
   	c.	($14,000)
   	d.	NIL
   	e.	$33,500
   	f.	$86,000
   	g.	None of the choices shown.
   	h.	$81,000