Aruna, a sole proprietor, wants to sell two assets that she no longer needs for her business. Both assets qualify as 1231 assets. The first is machinery and will generate a $19,750 $1231 loss on the sale. The second is land that will generate a $12,700 1231 gain on the sale. Aruna's ordinary marginal tax rate is 32 percent. Note: Input all amounts as positive values. Problem 11-50 Part-a (Algo) a. Assuming she sells both assets in December of year 1 (the current year), what effect will the sales have on Aruna's tax liability? Aruna's tax will by