1. Troy has the following gains and losses from sales of capital assets during the current year.

   Short-term capital gain	$7,800
   Short-term capital loss	9,000
   Long-term capital gain	5,400
   Long-term capital loss	2,100

   What is the effect of the capital asset transactions on his taxable income?

   Troy has a net short-term capital of $ and a net long-term capital of $ which results in an overall net capital of $ .