LO.4 Maul, Inc., a calendar year S corporation, incurred the following items. Tax-exempt interest income Sales Depreciation recapture income Long-term capital gain $1231 gain Cost of goods sold Administrative expenses $ 7,000 140,000 12,000 20,000 7,000 (42,000) (15,000) (17,000) (7,000) Depreciation expense (MACRS) Charitable contributions

a. Calculate Maul's nonseparately computed income or loss.

b. If Carl is a 40% shareholder of Maul, what is Carl's share of Maul's long-term capital gain?