-IVITIEWOIK: Chapter 18 Problems Save Score: 0 of 10 pts 2 of 2 (0 complete) HW Score: 0%, 0 of 20 pt 18.3 (similar to) Question Help Walt Hubble is contemplating selling rental property that originally cost $203,982. He believes that it has appreciated in value at an annual rate of 6% over its four-year holding period. He will have to pay a commission equal to 6% of the sale price to sell the property. Currently, the property has a book value of $138.765.12. The mortgage balance outstanding at the time of sale currently is $154,830.78. Wait will have to pay a 15% tax on any capital gains and a 25% tax on recaptured depreciation a. Calculate the tax payable on the proposed sale, b. Calculate the after-tax net proceeds associated with the proposed sale, CFR: a. The tax payable on the proposed sale is $ (Round to the nearest cent.)