Required information [The following information applies to the questions displayed below) Aruna, a sole proprietor, wants to sell two assets that she no longer needs for her business. Both assets qualify as 51231 as sets. The first is machinery and will generate a $31,250 81231 loss on the sale. The second is land that will generate a $15, 200 61231 gain on the sale. Aruna's ordinary marginal tax rate is 32 percent. (Input all amounts os positive values.) Assuming she sells both assets in December of year 1(the current year), what effect will the sales have on Aruna's tax liability? Aruna's tax will decrease by $ 5,136 Required information [The following information applies to the questions displayed below) Aruna, a sole proprietor, wants to sell two assets that she no longer needs for her business. Both assets qualify as $1231 as sets. The first is machinery and will generate a $31,250 81231 loss on the sale. The second is land that will generate a $15, 200 $1231 gain on the sale. Aruna's ordinary marginal tax rate is 32 percent (Input all amounts os positive values.) b. Assuming that Aruna sells the land in December of year 1 and the machinery in January of year 2 what effect will the sales have on Aruna's tax liability for each year? Aruna's tax Aruna's tax in year 1 by in year 2 by