The following facts apply to Newton, a single individual, for 2017:
W–2 income ............................................................................$110,000
Traditional IRA contribution ..........................................................5,000
Coverdell Education Savings Account contribution ......................2,000
State Qualified Tuition plan (529 plan) contribution .....................3,000
Qualifying medical expenses .....................................................12,000
Newton does not participate in any pension or profit sharing plan other than the traditional IRA. Considering only the foregoing facts, what should Newton’s adjusted gross income be for 2017?
a. $104,000
b. $103,000
c. $102,000
d. $105,000