1) Computing the Tax. Donna files as head of household in 2013 and has taxable income of $90,000, including the sale of a stock held as an investment for two years at a gain of $20,000. Only one asset was sold during the year and Donna does not have any capital loss carryovers. a. What is the amount of Donnas tax liability? b. What is the amount of Donnas tax liability if the stock is held for 11 months? 2) Character of Loss. The Michigan Corporation owns 20% of the Wolverine Corporation. The Wolverine was acquired eight years ago to ensure a steady supply of raw materials. Michigan also owns 30% of Spartan Corporation and 85% of Huron Corporation. Stock in both corporations was acquired more than ten years ago for investment purposes. During the current year, Woleverine, Spartan, and Huron are deemed bankrupt, and the stocks are considered worthless. Describe how Michigan should treat its losses