In 2022, Tom and Alejandro Jackson (married filing jointly) have $220,000 of taxable income before considering the following events: (Use the dividends and capital gains tax rates and tax rate schedules.) a. On May 12, 2022, they sold a painting (art) for $112,500 that was inherited from Grandma on July 23,2020. The fair market value on the date of Grandma's death was $91,250, and Grandma's adjusted basis of the painting was $25,500. b. They applied a long-term capital loss carryover from 2021 of $10,250. c. They recognized a $12,125 loss on the 11/1/2022 sale of bonds (acquired on 5/12/2012). d. They recognized a $4,150 gain on the 12/12/2022 sale of IBM stock (acquired on 2/5/2022 ). e. They recognized a $17,600 gain on the 10/17/2022 sale of rental property (the only $1231 transaction), of which $8,400 is reportable as gain subject to the 25 percent maximum rate and the remaining $9,200 is subject to the 0/15/20 percent maximum rates (the property was acquired on 8/2/2016 ). f. They recognized a $12,250 loss on the 12/20/2022 sale of bonds (acquired on 1/18/2022 ). g. They recognized a $7,125 gain on the 6/27/2022 sale of BH stock (acquired on 7/30/2013 ). h. They recognized an $11,250 loss on the 6/13/2022 sale of QuikCo stock (acquired on 3/20/2015). i. They received $600 of qualified dividends on 7/15/2022. After completing the required capital gains netting procedures, what will be the Jacksons' 2022 tax liability? Tax Rates for Net Capital Gains and Qualified Dividends *This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table (net capital gains and qualified dividends are included in taxable income last for this purpose). Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) \begin{tabular}{|c|c|l|} \hline If taxable income is over: & But not over: & \multicolumn{1}{|c|}{ The tax is: } \\ \hline$ & $20,550 & 10% of taxable income \\ \hline$20,550 & $83,550 & $2,055 plus 12% of the excess over $20,550 \\ \hline$83,550 & $178,150 & $9,615 plus 22% of the excess over $83,550 \\ \hline$178,150 & $340,100 & $30,427 plus 24% of the excess over $178,150 \\ \hline$340,100 & $431,900 & $69,295 plus 32% of the excess over $340,100 \\ \hline$431,900 & $647,850 & $98,671 plus 35% of the excess over $431,900 \\ \hline$647,850 & - & $174,253.50 plus 37% of the excess over $647,850 \\ \hline \end{tabular}