Required information Problem 11-50 (LO 11-5) (Static) The following intormation appiles to the questions displuyed below] Aruna, a sole proprietoc wants to sell two assets that she no longer needs for her business. Both assets qualify as 31231 $7,0004,231 gain on the sale. Aruna's ordinary maiginal tax rate is 32 percent. Note: Input oll amounts os positive volues. Problem 11-50 Part-a (Static) a. Assuming she sells both assets in December of year 1 (the current year), what effect will the sales hawe on Aruna's tax liabality? 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