13 bints eBook Required information Problem 7-48 (LO 7-2) (Algo) [The following information applies to the questions displayed below.) During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and tax rate schedules.) $ 43,400 41,400 24,400 Holding Period >1 year Capital Asset L stock Market Value $ 54,800 Tax Basis Print M stock 32,800 >1 year N stock 34,800 < 1 year References O stock Antiques 30,800 35,400 < 1 year 11,800 6,400 >1 year 304,800 92,400 >1 year Rental home *$30,000 of the gain is 25 percent gain (from accumulated depreciation on the property) Ignore the Net Investment Income Tax. Problem 7-48 Part-a (Algo) a. Given that Ron and Anne have taxable income of only $24,800 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2022 assuming they file a joint return? Gross tax liability