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 Market Value $ 54,400 Tax Basis Holding Period $ 43,200 > 1 year M stock 32,400 41,200 > 1 year N stock 34,400 24,200 < 1 year 0 stock 30,400 35,200 < 1 year Antiques 11,400 6,200 > 1 year Rental home 304,400* 92,200 > 1 year *$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 $24,400 (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