Required information Problem 7-48 (LO 7-2) (Algo) [The following information applies to the questions displayed below.] During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and tax rate schedules.) Capital Asset L stock M stock. N stock 0 stock Antiques Market Value $ 55,000 Tax Basis Holding Period $ 43,500 > 1 year 33,000 41,500 > 1 year 35,000 24,500 < 1 year 31,000 35,500 < 1 year 12,000 6,500 > 1 year 305,000* 92,500 > 1 year Rental home *$30,000 of the gain is 25 percent gain (from accumulated depreciation on the property). Ignore the Net Investment Income Tax. Problem 7-48 Part-a (Algo) a. Given that Ron and Anne have taxable income of only $25,000 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2022 assuming they file a joint return? Gross tax liability