Marnie buys 500 shares of qualified small business stock in H.R. Pizza, Inc., on September 10, 2008, for $20,000. She sells the 500 shares for $120,000 on October 2, 2019. Marnies other capital asset transactions consist of a $7,000 short-term capital loss, a $25,000 long-term capital gain, and an $8,000 long-term capital loss carryover from 2018. Marnie is single, and her taxable income is $110,000 without considering her capital asset transactions. What is the effect of the sale of the stock on Marnies 2019 income tax liability?

Refer to the Tax Rate Schedules to answer the following questions.

Marnie has a $______ short-term capital loss and a $______ long-term capital gain, resulting in a net long-term capital gain of $_______.

The tax on the adjusted net capital gain is $_______ and the tax on the qualified small business stock is $_________.