3a. Jo purchased 500 shares of a no-load stock mutual fund a few years ago. During 2020, she received $2 per share in dividend distributions. What are the federal tax consequences on the dividends if Jo is in the 35% marginal tax bracket and the dividends were qualified dividends?

3b. What are the federal tax consequences of Jo's ownership of this stock fund earning $900 in long-term capital gain distributions in 2020?