Peter, age 25, is single. He lives with his disabled and dependent mother, for whom he provides more than a half of support. Peter earned a $75,000 salary. His other income consisted of $2,000 interest from a bank account and $400 interest on municipal bonds that he previously had received as a graduation gift. In addition, he sustained a deductible capital loss of $5,000 from the sale of stock. His itemized deductions amount to $12,650. What is Peters taxable income?

Group of answer choices $55,350 $55,950 $62,200 $61,600