[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 Capital Asset Market Value Tax Basis Holding Period L stock M stock N stock o stock Antiques Rental home 50,000 28,000 30,000 26,000 7,000 300,000* $41,000 39,000 22,000 33,000 4,000 90,000 > 1 year 1 year 1 year 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-b 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 2018 assuming they file a joint return? (Round all your intermediate computations to the nearest whole dollar amount.) Gross tax liability