You are in the 33% marginal tax rate. Stock you purchased at the beginning of the year has increased in value by $24,000.

a. If you sell the stock today, your capital gain will be classified as short-term. At what rate would you be taxed, and what would be your tax liability?

b. If you waited a month, your capital gain would be classified as long-term. At what rate would you be taxed, and what would be your tax liability given this scenario?

c. You earned a salary of $178,000, had interest income of $700, and dividend income of $500, and you experienced the short-term capital gain described in part a, above. What is your gross income?

d. You made a traditional IRA contribution of $2,000 and paid $500 in student loan interest. What is your adjusted gross income (AGI) based on the gross income described in 4(c)?