Willie Sells the Following Assets and Realizes the Following Gains

Multiple Choice

Willie sells the following assets and realizes the following gains (losses) during the current year:
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$$\begin{array} { l r } \text { Personal auto } & \$ ( 5,000 ) \\\text { Municipal bonds } & ( 7,000 ) \\\text { Stamp collection } & 4,000 \\\text { Furniture } & ( 6,000 ) \\1 \% \text { interest in oil well } & ( 8,000 ) \end{array}$$
As a result of these sales, Willie's adjusted gross income will:

A) Decrease by $3,000.
B) Decrease by $4,000.
C) Decrease by $11,000.
D) Decrease by $15,000.
E) Not change.