Problem $3-57($LO $3-5)($Algo$)$

Daniel is considering selling two stocks that have not fared well over recent years. A friend recently informed Daniel that one of his stocks has a special designation, which allows him to treat a loss up to $$72,000$ on this stock as an ordinary loss rather than the typical capital loss. Daniel figures that he has a loss of $$86,400$ on each stock. If Daniel's marginal tax rate is $35$ percent and he has $$172,800$ of other capital gains $($taxed at $15$ percent$),$ what is the tax savings from the special tax treatment?

Tax savings