Barbara Legault operates a full-time law practice in southwestern Ontario. In her spare time, she maintains a small rural acreage for the purpose of growing and selling Christmas trees. In addition, she derives income from various investments and is an art collector. Below are her financial results for 20X1.

Net income from law practice …………………..	$ 97,000
Loss on tree farm operation ……………….	(12,500)
Gross rents received on rental property ……………….	28,000
Operating expenses on rental property before capital
cost allowance ……………….	37,000
Gain on sale of shares of public corporations ……………….	80,000
Loss on sale of summer cottage ……………….	4,000
Gain on sale of oil painting ……………….	8,000
Gain on sale of shares of a small business corporation ………	20,000
Lump-sum payment to ex-husband as part of divorce settlement ……	40,000
Loss on sale of shares of a public corporation ……………….	14,000

At the end of 20X0, the following tax accounts existed:

Net listed personal property losses forward from 20X0
(represents the actual loss) ……………….	$ 4,000
Undepreciated capital cost allowance on rental property……………….	160,000
Net capital losses ……………….……………….	7,000
Cumulative net investment loss……………….	14,000

Legault had not previously used any of her lifetime capital gain deduction.

Required:

What is Legault’s taxable income for 20X1?