This is a Federal Income Tax related question:

Chelsea, who is single, purchases land for investment purposes in 2014 at a cost of $22,400. In 2019, she sells the land for $36,900. Chelsea's taxable income without considering the land sale is $114,200. What is the effect of the sale of the land on her taxable income, and what is her tax liability?

Refer to the tax rate schedule for calculations.

Round all calculations to two decimal places. Assume a long-term capital gains tax rate of 15%.

The effect of the sale of land is that itincreases

her taxable income by the amount of thecapital gain

I am not able to attach a copy but if you are to look up the 2019 tax rate schedule that would be great. I got every part right except for the tax liability. My answer was 23756.56 but it keeps coming up wrong. The way I solved it was 14382 + 24%(114200-84201) Then I would multiply (36900-22400)*15%. I would then add those two answers to get the 23,756.56