10. Steve has a capital loss carryover in the current year of $20,000. He owns 3,000 shares of stock in Carmine Corporation, which he purchased six years ago for $25 per share. In the current year, Carmine Corporation (E & P of $750,000) redeems all of his shares for $140,000. Steve is in the 35% tax bracket. What is his income tax liability with respect to the corporate distribution if: a. The redemption qualifies for sale or exchange treatment, and Steve has no other transactions in the current year involving capital assets. I b. The redemption does not qualify for sale or exchange treatment