When preparing Lukes income tax return for the year ended 30 June 2020, you note the following:

	$
Current year assessable income	78,000
Current year allowable deductions (excluding donations to DGRs)	26,000
Donations to DGR's	2,000
Current year net exempt income	4,500
Tax loss carried forward from the 2019 income year	(16,800)

Given this information, Luke's taxable income for the year ended 30 June 2020 is:

	a.	$33,200;
	b.	$37,700;
	c.	$50,000.
	d.	$41,700;