Maggie, an individual in the 32% tax bracket, acquired stock in Victoria Corporation four years ago for $80,000. In the current year, Victoria Corporation (E&P $1 million) redeems her shares for $170,000. Determine (1) Maggies long-term capital gain when the redemption qualifies for sale or exchange treatment and (2) Maggies long-term capital gain when the redemption does not qualify for sale or exchange treatment.

$90,000 and $25,500

$13,500 and $12,000

$90,000 and $0

$80,500 and $0