Exercise $6-3($Algorithmic$)($LO$.2)$

On May $9,2021,$ Calvin acquired $500$ shares of stock in Hobbes Corporation, a new startup company, for $$121,800.$ Calvin acquired the stock directly from Hobbes, and it is classified as $1244$ stock $($at the time Calvin acquired his stock, the corporation had $$900,000$ of paid$-$in capital$).$ On January $15,2023,$ Calvin sold all of his Hobbes stock for $$12,180.$ Assume that Calvin is single.

Assuming that Calvin is single, determine his tax consequences as a result of this sale.