Zeno Inc. sold two capital assets in 2018. The first sale resulted in a $53,000 capital loss, and the second sale resulted in a $25,600 capital gain. Zeno was incorporated in 2014, and its tax records provide the following information.

a. Using a 34 percent tax rate (Zeno€™s marginal tax rate prior to 2018), compute Zeno€™s tax refund from the carry back of its 2018 nondeductible capital loss.

b. Compute Zeno€™s capital loss carryforward into 2019.

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2014 2015 2016 2017 Ordinary income Net capital gain Taxable income $443,000 22,000 $465,000 $509,700 $810,300 4,120 $814,420 $921,000 13,600 $934,600 -0- $509,700