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Dlscusslon Question 3-15 (Lu. 5} During the year, Hernando recorded the following transactions: a. Gain on the sale of stock held as an investment for 1D months. [1. Gain on the sale of land held as an investment for 4 years. c. Gain on the sale of a houseboat owned for 2 years and used for family vacations. d. Loss on the sale of a reconditioned motorcycle owned for 3 years and used for recreational purposes. Indicate how Hernando should treat these transactions for income tax purposes. Transaction Tax Treatment a. Gain on the sale of stock held as an inveshrient for 1D months. h. Gain on the sale of land held as an investment for 4 years. c. Gain on the sale of a houseboat owned for 2 years and used for family vacations. cl. Loss on the sale of a reconditioned motorcycle owned For 3 years and used for recreational purposes. Tax Rate: Short-tem'i capital gains are taxed at: Long-term capital gains are taxed at