Question 23 (4 points) Saved Jorge had gains and losses from the following transactions: Gain from the sale of land held for two years used in business Loss from sale of business equipment held for more than one year. Collectibles Gain (Long-term). Gain on the sale of stock of Oshkosh Corp. held five years as an investment. Loss on the sale of Texas Instrument stock held ten years as an investment He also has: Salary 142,500 Interest income on a certificate of deposit 500 Interest income on municipal bond 300 Long-term capital loss carryover (2,000) 12.000 (8,000) 1,000 6,000 (7,000) How much of Jorge's net gains and losses will be subject to a 15% tax rate Question 5 (3 points) Saved On June 20th of the current year, Richard received 100 shares of stock as an inheritance from his uncle who died on January 20 this year. His uncle's adjusted basis in the stock was $45,000. The stock had a fair market value of $55,000 on January 20. On the date Richard received it (June 20), its value was $68,000. Richard's basis in the inherited stock is