49. During 2020, Chester (a married taxpayer filing a joint return) had the following transactions involving capital assets:

• Gain on the sale of an arrowhead collection (acquired as an investment at different times but all pieces have been held for more than 1 year) $ 6,000
• Loss on the sale of IBM Corporation stock (purchased 11 months ago as an investment) (3,500)
• Gain on the sale of a city lot (acquired 5 years ago as an investment) 2,000

1. If Chester has taxable income of $378,400, how much income tax results?
2. If Chester has taxable income of $74,125, how much income tax results?

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