4 Part 2 of 2 1.33 points 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.) eBook Print Capital Asset L stock Market Value $ 52,000 Tax Basis Holding Period $ 42,000 > 1 year M stock 30,000 40,000 > 1 year N stock 32,000 23,000 < 1 year O stock Antiques 28,000 34,000 < 1 year Rental home 9,000 302,000* 5,000 91,000 > 1 year > 1 year *$30,000 of the gain is 25 percent gain (from accumulated depreciation on the property). References Ignore the Net Investment Income Tax. Problem 7-48 Part-b (Algo) b. Given that Ron and Anne have taxable income of $402,000 (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 Check my work