Julio is in the 32% tax bracket. He acquired 2,000 shares of stock in Gray Corporation seven years ago at a cost of $120 per share. In the current year, Julio received a payment of $180,000 from Gray Corporation in exchange for 1,000 of his shares in Gray. Gray has E & P of $6,000,000. What tax liability would Julio incur on the payment in each of the following situations? Assume that Julio has no capital losses and taxpayers in the 32% tax bracket are subject to the long-term capital gains and qualified dividends tax rate of 15%. a. The stock redemption qualifies for sale or exchange treatment. Julio has of $ Julio's tax liability would be $ b. The stock redemption does not qualify for sale or exchange treatment. Julio has of $ Julio's tax liability would be $