Required information

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Aram's taxable income before considering capital gains and losses is $$77,000.$ Determine Aram's taxable income and how

much of the income will be taxed at ordinary rates in each of the following alternative scenarios $($assume Aram files as a

single taxpayer$).$

a$.$ Aram sold a capital asset that he owned for more than one year for a $$5,340$gain, a capital asset that he owned for more than one

year for a $$670$ loss, a capital asset that he owned for six months for a $$1,540$gain, and a capital asset he owned for two months for a

$$1,070$ loss.

Taxable income

Income taxed at ordinary rates