In 2022, Bethany completed the following transactions with the indicated results.
						Gain(Loss)
Sold an unset emerald purchased in 2000						(55,000)
Sold 1 bottle of Perrier-Jouet Brut Millesime 1874 (champagne), purchased in 1974						68,000
Unrecaptured IRC 1250 gain						32,000
Sold public company stocks and bonds held more than 1 year						(27,000)
Sold land held for investment, purchased 4/1/2022 and sold 10/31/2022						(35,000)
Sold those framed photos of Nureyev, purchased 7/19/2022 and sold 12/15/2022						40,000
REQUIRED
1. In the column provided indicate whether the holding period is long term or short term.
2. In the column provided indicate the applicable long-term tax rate
	The graphic in section 3-9d. of the text may be helpful.
3. What is the net result of the short-term transactions?
4. What is the net result of the long-term transactions?
5. What is the impact to adjusted gross income from these activities?
6. After completing the appropriate netting within the LT assets, what rate applies to the LT gain