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3. Chunwei is single and has taxable income of $42,000 without considering the sale of a capital asset in August of 2022 for $12,000. That asset was purchased four years earlier and has a tax basis of $4,000. The tax liability applicable to only the capital gain is (rounded) A) $0. B) $949. C) $1,849. D) $15,000..

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3. Chunwei is single and has taxable income of $42,000 without considering the sale of a capital asset in August of 2022 for $12,000. That asset was purchased four years earlier and has a tax basis of $4,000. The tax liability applicable to only the capital gain is (rounded) A) $0. B) $949. C) $1,849. D) $15,000.

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