Perkins Manufacturing is considering the sale of two nondepreciable assets, X and Y. Asset X was purchased for

$ 1 comma 840$1,840

and will be sold today for

$ 2 comma 290$2,290.

Asset Y was purchased for

$ 29 comma 500$29,500

and will be sold today for

$ 35 comma 600$35,600.

The firm is subject to a

34 %34%

tax rate on capital gains.

a. Calculate the amount of capital gain, if any, realized on each of the assets.

b. Calculate the tax on the sale of each asset.