The following table summarizes information on Long-term Capital Gains (LTCG), Long-Term Capital Loss (LTCL), Section 1231 Gains, and Section 1231 Losses for each of three independent scenarios: Scenario 2 3 LTCG or (LTCL) STCG or (STCL) Section 1231- Section 1231-Losses Gains $7,800 $2,200 $9,500 $4,500 $18,000 $(23,000) $1,000 $16,000 $18,000 $3,000 $8,000 $13,000 Required: (Show your calculations) For each of the above three independent scenarios, calculate the additional amount of income tax (or tax savings if a loss) that would result from current gains and losses assuming that the taxpayer is: a) The Blue Ocean Corporation. (4.5 marks) b) A sole proprietorship whose ordinary income is taxed at 37% rate and long-term capital gains at a 20% (4.5 marks) rate.