Bruce, who is single, had the following items for the current year:

∙ Salary of $80,000.
∙ Gain of $20,000 on the sale of § 1244 stock acquired two years earlier.
∙ Loss of $75,000 on the sale of § 1244 stock acquired three years earlier.
∙

Worthless stock of $15,000. The stock was acquired on February 1 of the prior year and became worthless on January 15 of the current year.
Determine Bruce's AGI for the current year.
a. $27,000
b. $38,000
c. $42,000
d. $47,000
e. None of the above