Sheldon had salary income of $40,000. In addition, he had the following gains and losses on his property transactions. Long term capital gain = $14,000; short-term capital gain = $6,000; long-term capital loss = $4,000; short-term capital loss = $8,000. If

Sheldon has no other income items, what is his total income before any deductions for the year?

a. $44,000

b. $47,000

c. $48,000

d. $52,000

e. None of the abov