Bongo Corporation was incorporated in 2018. It had no capital asset transactions in 2018. From 2019 through 2022, 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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2019 2020 2021 2022 Capital gains Capital losses $ 14,000 (8,000) $ 12,000 (26,000) $ 9,000 (22,000) $ 30,000 (11,000)