previous question, the capital loss Geoffry suffered in 2008 was $100,000. The only other capital transaction Geoffry has ever recorded was in 1998, when he had a taxable capital gain of $45,000 on which he qualified for the capital gains exemption. Geoffry had $98,000 in employment income in 2008. Show the tax consequences in 2008 for Geoffry, using the aggregating formula of Section 3, and assuming that Geoffry: (a) took the capital gains deduction in 1998; and (b) did not take the capital gains deduction in 1998