2 Required information [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.) Capital Asset L stock M stock. N stock 0 stock Antiques Market Value $ 54,800 Tax Basis Holding Period $ 43,400 > 1 year 32,800 41,400 > 1 year 24,400 1 year >1 year Rental home 34,800 30,800 11,800 304,800* $30,000 of the gain is 25 percent gain (from accumulated depreciation on the property). Ignore the Net Investment Income Tax. 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? Answer is complete but not entirely correct. Gross tax liability $ 40,276 Required information [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.) Capital Asset L stock Market Value $ 54,800 Tax Basis $ 43,400 Holding Period M stock 32,800 41,400 >1 year > 1 year N stock 34,800 24,400 0 stock 30,800 35,400 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. b. Given that Ron and Anne have taxable income of $404,800 (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