The taxable income (before inclusions of capital gain or capital loss implications) and capital gains or losses for a five-year period for the Renberg's Co. is given below. Compute the appropriate tax payment and refunds each year (be sure to label your calculations) (12 points)

2020 Taxable Income $90,000

Capital Gain $140,000

2021 Taxable Income $70,000

Capital Gain 0

2022 Taxable Income 0

Capital Gain 0

2023 Taxable Income $40,000

Capital Loss $(80,000)

2024 Taxable Income $55,000

Capital Loss $(50,000)