During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and tax rate schedules.) Capital Asset Market Value L stock $ 52,600 M stock 30, 600 N stock 32,600 O stock 28,600 Antiques 9,600 Rental home 302,600* Tax Basis $42,300 40,300 23,300 34,300 5,300 91,300 Holding Period > 1 year > 1 year 1 year > 1 year *$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 $22,600 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2018 assuming they file a joint return? (Round all your intermediate computations to the nearest whole dollar amount.) Gross tax liability b. Given that Ron and Anne have taxable income of $402,600 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2018 assuming they file a joint return? (Round all your intermediate computations to the nearest whole dollar amount.) Gross tax liability Tax Rates for Net Capital Gains and Qualified Dividends Rate* 0% 15% Married Filing Jointly $0 - $77,200 $77,201 - $479,000 $479,000+ Married Filing Separately $0 - $38,600 $38,601 - $239,500 $239,500+ Taxable Income Single SO - $38.600 $38.601 - $425,800 $425.801+ Head of Household $0 - $51,700 $51,701 - $452,400 $452.401+ Trusts and Estates SO - $2,600 $2,601 - $12,700 $12,701+ 20% *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)