During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and tax rate schedules.)

Capital Market Value Tax Basis Holding Period L stock $ 53, 600 $ 42, 800 > 1 year 10,800 M stock 31, 600 40, 800 > 1 year -9,200 N stock 33, 600 23, 800 1 year 4,800 Rental home 303, 600 91, 800 > 1 year 211,800 462,600 239,800 222,800Tax Rates for Not Capital Gains and Qualified Dividends Rate* Taxable Income Married Filing Married Filing Single Head of Trusts and Jointly Separately Household Estates 0% $0 - $78,750 $0 - $39,375 $0 - $39,375 $0 - $52,750 $0 - $2,650 15% $78,751 - $488,850 $39.376 - $244,425 $39,376 - $434,550 $52,751 - $461,700 $2,651 - $12,950 20% $488,851+ $244,426+ $434,551+ $461,701+ $12.951+ This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table (net capital gains and qualified dividends are included in taxable income last for this purpose).Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable Income But not over: The tax Is: Is over: 0 $ 19.400 10% of taxable income $ 19.400 $ 78.950 $1,940 plus 12% of the excess over $19,400 5 75.950 $165.400 $9.036 plus 22% of the excess over 375.950 5168.400 5321.450 $28,765 plus 24% of the excess over $163.400 5321,450 5403.250 $65,497 plus 32% of the excess over $321,450 $405.250 $612.350 $93.257 plus 35% of the excess over $408.250 5612.350 $164.709 50 plus 37%% of the excess over $612.350