my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question Required information Problem 12-34 (LO 12-2) (Static) [The following information applies to the questions displayed below.] On January 1, year 1, Dave received 1,000 shares of restricted stock from his employer, RRK Corporation. On that date, the stock price was $7 per share. On receiving the restricted stock, Dave made the 83(b) election. Dave's restricted shares will vest at the end of year 2. He intends to hold the shares until the end of year 4, when he intends to sell them to help fund the purchase of a new home. Dave predicts the share price of RRK will be $30 per share when his shares vest and will be $40 per share when he sells them. Assume that Dave's price predictions are correct and answer the following questions: (Enter all amounts as positive values. Leave no answers blank. Enter zero if applicable.) Problem 12-34 Part a (Static) a. What are Dave's taxes due if his ordinary marginal rate is 32 percent and his long- term capital gains rate is 15 percent