Problem 2 Question 3: Assume the transactions above result in the following gains and losses in the capital gain/loss netting process. Calculate the tax liability on the net gain from these transactions. Short-term Capital Gains/Losses 28% Gain 25% Gain Long-term Capital Gains/Losses 8,000 15000 12,000 (12,000) (20,000) 6,000 10,000 (11,000) a $1,200 b. $2,000 c. $2,240 d. $2,560