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The _____ market school believes that forward exchange rates are NOT the best predictors of future spot exchange rates.

Fill in the blank(s) with the appropriate word(s).

A review of Bearing's Year 2 records disclosed the following tax information: Wages-$18,000 Taxable interest and qualifying dividends-4,000 Schedule C trucking business net income-32,000 Rental (loss) from residential property-(35,000) Limited partnership (loss)-(5,000) Bearing actively participated in the rental property and was a limited partner in the partnership. Bearing had sufficient amounts at risk for the rental property and the partnership. What is Bearing's Year 2 adjusted gross income?

a) $14,000 b) $29,000 c) $19,000 d) $54,000