Julio acquired 2,000 shares of stock in Gray Corporation seven years ago at a cost of $50 per share. In the current year, Julio received a payment of $150,000 from Gray Corporation in exchange for 1,000 of his shares in Gray, Gray has E & P of $1,000,000. Julio takes a capital loss carryover of $50,000 into the current tax year. Julio records no other capital gain transactions during the year. Assume that Julio is in the 32% tax bracket and is subject to the long-term capital gains and qualified dividends tax rate of 15% What amount of the capital loss may Julio deduct in the current year in the following situations? What is his income tax liability? a. The payment from Gray Corporation is a qualifying stock redemption for tax purposes. Julio may use of the capital loss carryover to offset the gain on the redemption. His income tax liability is b. The payment from Gray is a nonqualified stock redemption for tax purposes. Julio could deduct si of the $50,000 capital loss carryover. His income tax liability is c. ulio had the flexibility to structure the transaction as described, which form would he choose to receive the greatest tax benefit? The qualifying stock redemption