O Required information [The following information applies to the questions displayed below) Aruna, a sole proprietor, wants to sell two assets that she no longer needs for her business. Both assets qualify as 51231 assets. The first is machinery and will generate a $30,500 51231 loss on the sale. The second is land that will generate a $12,800 51231 gain on the sale. Aruna's ordinary marginal tax rate is 32 percent. (Input all amounts os positive values.) a. Assuming she sells both assets in December of year 1 (the current year), what effect will the sales have on Aruna's tax liability? Arunas tax decrease ! Required information [The following information applies to the questions displayed below) Aruna, a sole proprietor, wants to sell two assets that she no longer needs for her business. Both assets qualify as $1231 assets. The first is machinery and will generate a $30,500 51231 loss on the sale. The second is land that will generate a $12.800 51231 gain on the sale. Aruna's ordinary marginal tax rate is 32 percent. (Input all amounts as positive values.) b. Assuming that Aruna sells the land in December of year 1 and the machinery in January of year 2. what effect will the sales have on Aruna's tax liability for each year? Answer is not complete. Aunasta Increase in year 1 by Anna tax decrease in year 2 by