During 2013, Travis takes out a $40,000 loan, using stock he owns as collateral. He uses $10,000 to purchase a car, which he uses 100% for personal use. He uses the remaining funds to purchase stocks and bonds. He pays $3,200 interest on the loan. Travis also reports the following for the year:
AGI without any investment income....................... $130,000
State income taxes paid ......................................... 8,400
Dividend income................................................. 10,000
Interest income ................................................... 2,100
Investment expenses (exclusive of interest) ................. 8,000
Net short term capital gains .................................... 7,300
Net long term capital gain ...................................... 8,600
Travis is married and files a joint tax return. What is his net taxable income?