poration, A Calen Problem 3-40 (a) (LO. 1) During 2020, Bando Corporation, a calendar year C corporation, has net short-term capital gains of $18,000, net long-term capital losses of $35,000, and taxable income from other sources of $120,000. Prior years' transactions included the following: 2016 net short-term capital gains $1,000 2017 net long-term capital gains 4,000 2018 net short-term capital gains 2,000 2019 net long-term capital gains 1,500 If an amount is zero, enter "0". a. How much is Bando's net capital loss for 2020? 17,000 What is the amount of the capital toss deduction on Bando's 2020 tax return? 0 Any excess net capital loss is carried back or forward as a short-term capital loss TOLL e. Assume that Bando Corporation's capital loss carryforward in part(e) is $9,500, and that Bando will be able to use $4,000 of the carryover to offset capital gains in 2021 and the remaining $5,500 to offset capital gains in 2022. Determine the tax savings of the $35,000 long-term capital loss recognized in 2020. Assume a discount rate of 5%. The present value factors at 5% are as follows: 1.000 for 2017-2020, 0.9524 for 2021 and 0.9070 for 2022. Bando Corporation's marginal income tax rate is 34% for all tax years prior to 2018. Round your computations to the nearest dollar. In present value terms, determine the tax savings of the $35,000 long-term capital loss recognized in 2020