Required information

[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	Market Value		Tax Basis		Holding Period
L stock	$	54,200	$	43,100	> 1 year
M stock		32,200		41,100	> 1 year
N stock		34,200		24,100	< 1 year
O stock		30,200		35,100	< 1 year
Antiques		11,200		6,100	> 1 year
Rental home		304,200*		92,100	> 1 year

*$30,000 of the gain is 25 percent gain (from accumulated depreciation on the property). Ignore the Net Investment Income Tax.

rev: 09_28_2019_QC_CS-183505, 10_14_2019_QC_CS-185917, 04_13_2020_QC_CS-207737

a. Given that Ron and Anne have taxable income of only $24,200 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2019 assuming they file a joint return? (Round all your intermediate computations to the nearest whole dollar amount.)