In the current year, Karen is single, and her taxable income is $135,000 for 2020. Karen lives with her partner and his son who is a full time student. In addition, she has the following capital transactions and resulting gains (losses).

Green corporation stock (held for 9 months) $5,000

Red corporation stock (held for 11 months) (7,000)

Stamp collection (held for 10 years) $8,000

Land (held as an investment for 4 years) $2,000

What is the total amount of tax liability for of these short term and long term gains (losses) for 2020?

a) $0

b) $1,200

c) $1,760

d) $1,600