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Problem 11-44 (Algorithmic) (LO. 3,9) Leon sells his interest in a passive activity for $178,500. Determine the tax effect of the sale based on each of the following independent facts: If an amount is zero, enter "O". a. Adjusted basis in this investment is $62,475. Losses from prior years that were not deductible due to the passive activity loss restrictions total $68,723. The taxable gain is $ The suspended losses at the end of the year are $ Feedback Check My Work b. Assume the same sales price but the adjusted basis in this investment is $133,875. Losses from prior years that were not deductible due to the passive activity loss restrictions total $68,723. The deductible loss is $ The suspended losses at the end of the year are $ Feedback C. Assume the same sales price but the adjusted basis in this investment is $133,875. Losses from prior years that were not deductible due to the passive activity loss restrictions total $68,723. In addition, suspended credits total $17,850. The deductible loss is $ The suspended losses at the end of the year are $ The suspended credits at the end of the year are lost