During the current year, Ron and Annie sold the following assets:

capital Asset market value Tax basis holdin period

L stock $50,000 $41,000 > 1 year

m stock 28,000 39,000 > 1 year

N stock 30,000 22,000 < 1 year

O stock 26,000 33,000 < 1 year

Antiques 7,000 4,000 > 1 year

Rental home 300,000 90,000 > 1 year

$30,000 of the gain is 25 percent gain( fromaccumulated depreciation on the property).

Given that Ron and Annie have taxable income of $120,000 ( all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2016 assuming they file a joint return. Attach worksheet for this problem