EXHIBIT 3.2 Capital Gains Tax as of 2018 Short-term gains from the sale or exchange of property (investment assets not used in a business) and held for less than 12 months are taxed at the same rates as ordinary income (10 %, 12 %, 22%, 24 %, 32 %, 35 %, and 37%). Long-term gains from the sale or exchange of property held for more than 12 months are taxed as follows: Ordinary Tax Rate 10% or 12% 22%, 24%, 32%, or 35% 37% Alternative Capital Gains Tax Rate 0% 15% 20% Assignment: Chapter 03 Preparing Your Taxes Chapter 3. eBook Financial Planning Exercise 3 Calculating taxes on security transactions If Isabella Rodriguez is single and in the 22 percent tax bracket, calculate the tax associated with each of the following transactions. (Hint: Use the IRS: regulations for capital gains in effect in 2018.) Treat each of the following cases as independent of the others. Tax savings should be preceded by a sign. Round the answers to the nearest cent. a. She sold stock for $4,640 that she purchased for $4,000 3 months earlier. b. She sold bonds for $5,400 that she purchased for $4,000 3 years earlier. $. c. She sold stock for $2,800 that she purchased for $4,000 18 months earlier. Assume this to be the only Stock in Isabella's portfolio