During the year, Inez recorded the following transactions involving capital assets.

Gain on the sale of unimproved land (held as an investment for 3 years) ............ $ 3,000

Loss on the sale of a camper (purchased 2 years ago

and used for family vacations) ............................................................. (5,000)

Gain on the sale of ADM stock (purchased 9 months ago as an investment) ......... 4,000

Gain on the sale of a fishing boat and trailer (acquired 18 months ago at an auction and used for recreational purposes) ............................................................... 1,000

a. If Inez is in the 35% Federal income tax bracket, how much tax results?

b. If Inez is in the 15% bracket?