In the current year, Werbung Corporation (a calendar year C corporation) had operating income of $430,000 and operating expenses of $355,000. In addition, Werbung had a long-term capital gain of $25,000, a long-term capital loss of $2,000 and a short-term capital loss of $30,000.

a. Werbung's taxable income for the year is $ and the tax is $.

b. Assume the same facts except that Werbung's long-term capital gain was $50,000. Werbung's taxable income for the year is $ and income tax is $.