Ron Dixon is a fifth-grade school teacher who earned a salary of $78,000 in 2021. He is 45 years old, and he has been divorced for almost five years (he divorced his ex-wife in 2016, and he has not remarried). Under the terms of the divorce agreement, Ron pays $1,200 of alimony payments each month to his former wife. Ron owns and leases a small apartment building to tenants. In 2021 Ron received $50,000 of rental payments from tenants, and he paid $19,500 of expenses associated with leasing the apartment building. A few years ago, Ron acquired several investments. During 2021 he received $2,200 of interest income from corporate bonds and $1,500 of interest income from City of Denver municipal bonds. During 2021 Ron also sold 100 shares of stock of ABC Corporation, recognizing a long-term capital gain of $10,000, and 50 shares of XYZ Corporation, recognizing a short-term capital gain of $6,000. Ron rents a home in Illinois. Rons daughter, Heather, who is 20 years old, lives with Ron when she is not taking classes at Aurora University. Ron provides all of Heathers support. During 2021 Heather was awarded a $20,000 scholarship that paid for all of her tuition, room and board, and other expenses as a full-time student at Aurora University. Heathers only source of income during 2021 was $6,200 of interest income she received from corporate bonds she had received as gifts from her father over the last several years. Ron isn't sure if he will have enough items to benefit from itemizing deductions on his 2021 federal income tax return. However, he kept track of several expenses this year that he thought might qualify if he is able to itemize. Ron paid $5,800 of Illinois income taxes and $12,500 of charitable contributions in 2021. He also paid the following medical-related expenses for himself and Heather: Insurance premiums $ 7,952 Medical care expenses $ 1,100 Prescription medicine $ 350 Nonprescription medicine $ 1000 New contact lenses for Heather $ 200

Based on these facts, what is Ron Dixon's taxable income in 2021?

Answer: