JUU. U U U pis 2 of 2 (0 complete) HW Score: 0%, 0 of 20 p P18.3 (similar to) Question Help Walt Hubble is contemplating selling rental property that originally cost $197,863. He believes that it has appreciated in value at an annual rate of 7% over its four-year holding period. He will have to pay a commission equal to 4% of the sale price to sell the property. Currently, the property has a book value of $138,698.64. The mortgage balance outstanding at the time of sale currently is $154,868 14. Wat 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.)