CORPORATE CAPITAL GAINS. Kinzer, Inc., has had several transactions involving capital assets during 19x5. Kinzer’s accountant has developed the following data:

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DATE TRANSACTION SELLING PRICE HOLDING COST PERIOD 1/10 Purchased security A $-0- $ 6,000 -0- 2/20 Sole security M 16,000 14,000 2 years 3/21 Sold security Q 5,000 5,600 6 months 4/15 Sold security R 12,000 13,000 7 months 6/23 Sold land 29,000 14,000 -0- 8/15 Purchased security X -0- 11,000 -0- 9/10 Sold security A 5,000 6,000 8 months REQUIRED: 1. What is the net short-term capital gain or loss? 2. What is the net long-term capital gain or loss? 3. What is the effect of capital asset dispositions on taxable income for 19x5?