The Howells' broker issued them a Form 1099-B showing the sales proceeds net of the commissions paid. For example, the IBM sales proceeds were reported as $13,900 on the Form 1099-B they received. In addition to the sales reflected in the table above, the Howells provided you with the following additional information concerning 2023: The Howells received a Form 1099-B from the Vanguard mutual fund reporting a $900 long-term capital gain distribution. This distribution was reinvested in 31 additional Vanguard mutual fund shares on 6/30/2023. In 2017, Mrs. Howell loaned $6,300 to a friend who was starting a new multilevel marketing company called LD3. The friend declared bankruptcy in 2023, and Mrs. Howell has been notified she will not be receiving any repayment of the loan. The Howells have a $2,600 short-term capital loss carryover and a $5,100 long-term capital loss carryover from prior years. The Howells did not instruct their broker to sell any particular lot of IBM stock. The Howells earned $3,150 in municipal bond interest, $3,150 in interest from corporate bonds, and $4,300 in qualified dividends. Assume the Howells have $137,500 of wage income during the year. Comprehensive Problem 07-63 Part a-3 (Algo) a-3. Compute the Howells' tax liability for the year (ignoring the alternative minimum tax and any phase-out provisions) assuming they file a joint return, they have no dependents, they don't make any special tax elections, and their itemized deductions total $30,000. (Use the tax rate schedules, Dividends and Capital Gains Tax Rates.) Howells' tax liability for the year