Problem 13-36 (b) (LO. 1, 7) Jessica-Anne is in the 32% tax bracket. She acquired 5,000 shares of stock in Heritage Corporation two years ago at a cost of $200 per share. In the current year, Jessica-Anne received a payment of $840,000 from Heritage Corporation in exchange for 4,000 of her shares in Heritage. Heritage has E & P of $810,000. Jessica-Anne has a capital loss carryover of $50,000 in the current tax year. Assume that Jessica-Anne has no capital losses and taxpayers in the 32% tax bracket are subject to the long-term capital gains and qualified dividends tax rate of 15%. What amount of the capital loss may Jessica-Anne deduct in the current year in the following situations? If an amount is zero, enter "O". a. The $840,000 payment from Heritage Corporation is a qualifying stock redemption for tax purposes. Jessica-Anne may use $ 40,000 of the capital loss carryover to offset the gain on the redemption. Her income tax liability is o Feedback b. The $840,000 payment from Heritage Corporation does not qualify as a stock redemption for tax purposes. Jessica-Anne could deduct $ 3,000 of the $50,000 capital loss carryover. Her income tax liability is $ 125,550 x Feedback c. If Jessica-Anne had the flexibility to structure the transaction as described, which form would she choose to receive the greatest tax benefit? The qualifying stock redemption