Manny, whose tax rate is 32%, sells each of the following assets for $210,000. Each case is an independent case. (Click the icon to view each case) (Click the icon to view the capital gains and dividends rates table.) (Click the icon to view the tax rates table.) For each independent case, enter the amounts into columns 1-2 to classify the gain/(loss). Then enter the amount into the appropriate tax rate to be used in columns 3-5. (If an input field is not used, leave the input field(s) empty. Do not enter a zero.) Building purchased in 2005 for $235,000 with adjusted basis of $190,000 Sec. 1231 Gain (Loss) Ordinary Income Taxed at 32% Taxed at 25% Taxed at 20% Taxed at 15% Reference ling purchased in 2005 for $235,000 with adjusted basis of $190,000. 2. Equipment purchased in 2017 for $290,000 with adjusted basis of $164,000. 3. Land purchased in 1998 for $75,000 to use as a building site. 4. Building purchased in 2004 for $145,000 with adjusted basis of $132,000. 5. Equipment purchased in 2018 for $190,000 with adjusted basis of $145,000. Capital Gains and Dividends Capital gains and losses are assigned to baskets. Five possible tax rates will apply to most capital gains and losses: Ordinary income tax rates (up to 37% in 2021) for gains on assets held one year or less 28% rate on collectibles gains and includible Sec. 1202 gains Preferential tax rates for gains on assets held for more than one year and qualified dividends based on the taxpayer's taxable income and filing status as shown in the following table: Preferential Rate 0% Single Up to $40,400 Filing Jointly* Up to $80,800 15% 20% > $40,400 but not over $445,850 Over $445,850 > $80,800 but not over $501,600 Over $501,600 Head of Household Up to $54,100 > $54,100 but not over $473,750 Over $473,750 * The corresponding amounts if married filing separately are half of the amounts for filing jointly. The preferential rate is zero for taxable income up to $40,400 if married filing separately