Zeno, Inc. sold two capital assets in 2023. The first sale resulted in a $53,000 capital loss, and the second sale resulted in a $25,600 capital gain. Zeno was incorporated in 2019, and its tax records provide the following information: 

a. Compute Zeno’s tax refund from the carryback of its 2023 nondeductible capital loss. Zeno’s marginal tax rate was 21 percent for each prior year. 

b. Compute Zeno’s capital loss carryforward into 2024.

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Ordinary income Net capital gain Taxable income 2019 $443,000 22,000 $465,000 2020 $509,700 -0- $509,700 2021 $810,300 4,120 $814,420 2022 $921,000 13,600 $934,600