Judy acquired passive Activity A in January 2013 and Activity B in July 2014. Until 2018, Activity A was profitable. Activity A produced a loss of $39,500 in 2018 and a loss of $69,500 in 2019. She has $33,500 passive income from Activity B in 2018 and $21,500 in 2019. After offsetting passive income, how much of the net losses may she deduct?
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