In October 2019, Jack, a single taxpayer, sold IBM stock for $12,000, which he purchased 4 years ago for $4,000. He also sold GM stock for $14,000, which cost $17,500 3 years ago, and he had a short-term capital loss of $1,800 on the sale of land. The tax rates on long-term capital gains are as follows: Long-Term Capital Gains Rates Income Level Married filing jointly $0-$78,750 0% $78,751-$488,850 15% > $488,850 20% Single 30-$39,375 0% $39,376-5434,550 15% 20% 090 > $434,550 Head of household $0-$52.750 $52.751-5461,700 > $461,700 159 2010 come Level Capital Gains Rates Married filing jointly $0-$78,750 0% $78,751-$488,850 $488,850 15% 20% Single $0-$39,375 $39,376-$434,550 0% 15% 20% > $434,550 Head of household $0-$52,750 0% 15% $52,751-$461,700 > $461,700 20% If Jack's other taxable income (salary) is $78,000, what is the amount of Jack's tax on these capital transactions