Required information Problem 7-48 (LO 7-2) (Static) [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 Rental home Market Value $ 50,000 Tax Basis Holding Period $41,000 > 1 year 39,000 > 1 year 22,000 < 1 year 33,000 <1 year 4,000>1 year 90,000 >1 year 28,000 30,000 26,000 7,000 300,000- $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 (Static) a. Given that Ron and Anne have taxable income of only $20,000 (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? Problem 7-48 Part-b (Static) b. Given that Ron and Anne have taxable income of $400,000 (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