Question 2 Note: Please show detailed calculations and explanations. Answers without showing calculations/explanations, will not receive credit. a) Pure Action Cycles Incorporated, a bicycle manufacturer, has a net capital loss in 2022 of $(67,000). It had net capital gains of $21,350 in 2021, $46,500 in 2020,$10,300 in 2019 (but suffered a net operating loss in 2019), and $8,300 of net capital gain in 2018. What is the net capital gain in 2021 after the carryback is applied? b) Imperial Construction Incorporated (IC) issued 100,000 incentive stock options (ISOS) to its employees on January 1, 2021, with an estimated value of $5.50 per option. The options vest (accrue) at 25 percent per year for four years (beginning in 2022). Each option allows the holder to purchase one share of stock at $8. On January 1, 2023, employees exercised 12,500 options as IC's stock price reached $14.72. What is the amount of the book-tax difference in 2023 associated with the incentive stock options? Is it favorable or unfavorable? Is it temporary or permanent