The XYZ Partnership was formed on January 1 of the current year and incurred a $48,000 loss for the year ending December 31 of the same year. Each of the three partners share profits and losses equally. Mr. Y is a passive investor in the partnership. On January 1 of the current year, Y contributed $6,000. Mr. Y contributed $10,000 more during the year and had draws of $2,500. The partnership has no portfolio income and no partnership liabilities. What is Y's deductible loss from XYZ for the year if he had $9,500 in income from other passive investments?

a		$23,500
b		$13,500
c		$16,000
d		$9,500