Tony sells a passive activity with an adjusted basis of $170,000 for $250,000. Suspended losses attributable to this property total $35,000. The total gain and the taxable gain are:

45,000 TOTAL GAIN, 45,000 TAXABLE GAIN

80,000 TOTAL GAIN, 80,000 TAXABLE GAIN

80,000 TOTAL GAIN, 45,000 TAXABLE GAIN

80,000 TOTAL GAIN, 0 TAXABLE GAIN

NONE OF THE ABOVE