Mike sold the following shares of stock in 2014:

Date Purchased Adjusted Basis Date Sold Sales Proceeds

S Corp. 7/25/2007 $4,800 9/25 $9,500

O Corp. 5/17/2008 1,600 6/07 1,100

C Corp. 1/04/2009 3,900 8/25 7,500

K Corp. 11/02/2013 2,500 10/01 1,800

What are the tax consequences of these transactions, assuming his marginal tax rate is (a) 33% and (b) 39.6%? Ignore the medicare tax on net investment income.