In 2022 , Ned the fisherman had $1,500 of $1231 loss that offset ordinary income. In 2023,Ned had $70,000 of wage income and the following gains and losses: $7,000 Long-term Capital Loss (LTCL) $2,000 Short-term Capital Loss (STCL) $ 3,000 Long-term Capital Gain (LTCG) $4,000 Short-term Capital Gain (STCG) $8,000$1231 Gain (subject to ordinary recapture) $2,0001231 Loss For 2023, what is: a) Ned's taxable income taxed at preferential rates? b) Ned's taxable income taxed at ordinary rates? For partial credit, show your work