Tom is in the 32% regular tax bracket. During 2021, he had the following capital asset transactions:

$30,000 Gain from the sale of a stamp collection (held for 10 months)

$10,000 Gain from sale of an investment in land (held for 4 years)

$4,000 Gain from sale of stock investment (held for 8 years)

1. Compute Tom's tax consequences from these gains.

2. Compte Tom's tax consequences from these gains assuming he's single with a taxable income of $38,000.

3. How would your answers to 1. and 2. change if the holding period of the stamp collection was 13 months?