Bongo Corporation is incorporated in 2019. It has no capital asset transactions in 2019. From 2020 through 2023, Bongo has the following capital gains and losses:

Assuming that Bongo's marginal tax rate during each of these years is 21%, what is the effect of Bongo's capital gains and losses on the amount of tax due each year?

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Capital Gains Capital Losses 2020 $14,000 (8,000) 2021 $ 12,000 (26,000) 2022 2023 $9,000 $30,000 (22,000) (11,000)