During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and tax rate schedules.) L stock M stock Capital Asset Market Value Tax Basis Holding Period $ 50,000 $ 41,000 > 1 year 28,000 39,000 > 1 year 30,000 22,000 < 1 year 26,000 33,000 < 1 year 7,000 4,000 > 1 year 300,000* 90,000 > 1 year N stock O stock Antiques Rental home *$30,000 of the gain is 25 percent gain (from accumulated depreciation on the property). Ignore the Net Investment Income Tax. a. Given that Ron and Anne have taxable income of only $20,000 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2021 assuming they file a joint return? Answer is complete but not entirely correct. Gross tax liability $ 32,150