Joe is a 24% federal income taxpayer. His capital gains rate and qualified dividend rate is 15%. Joe bought 100 shares of ING for $12 per share 10 months ago. ING paid a dividend of $80 during Joe's holding period. Joe just sold all of the stock for $20 per share. What are Joe's tax consequences for the year?

Group of answer choices

$80 taxed at the ordinary income rate, $800 taxed at the LTCG rate.

$880 taxed at the LTCG rate.

$80 taxed at the LTCG rate, $800 taxed at the ordinary income rate.

$720 taxed at the ordinary income rate.