Problem 11-50 (LO 11-5) (Algo) [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 61231 assets. The first is machinery and will generate a $30,500 51231 loss on the sole. The second is land that will generate o $12,800 $1231 gain on the sale. Aruna's ordinary marginal tax rate is 32 percent. (Input all amounts as positive values.) Problem 11-50 Part-b (Algo) 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? Will Aruna's two will Answer is complete but not entirely correct. increase In year 1 s 2.048 X by decrease in year 2 $ by 2,048