Capital gains taxes Perkins Manufacturing is considering the sale of two nondepreciable assets, X and Y. Asset X was purchased for $1,990 and will be sold today for $2,240. Asset Y was purchased for $29,600 and will be sold today for $34,100. The firm is subject to a 40% tax rate on capital gains. a. Calculate the amount of capital gain, if any, realized on each of the assets b. Calculate the tax on the sale of each asset