Passive Losses (LO. 5) Janet has a taxable income of $51,340 from her salary and investment assets. She also owns 3 passive activities that have the following income (loss) for the year: Passive Activity 1 $12,620 Passive Activity 2 $(16,270) Passive Activity 3 $(8,230) Note: Do not round your intermediate computations. Round your final answers to the nearest dollar. a. What is the effect of the passive activities on Janet's income? Janet has a loss of $ . She is allowed to deduct these losses against passive income. Her net taxable income is $ b. How much suspended loss does Janet have in each passive activity? Of Janet's $ suspended loss, $ is allocated to Passive Activity 2 and $ to Passive Activity 3