The distinction between short$-$term and long$-$term capital gains is important because the capital gains tax is a maximum

of: $($Select the best answer below.$)$

A$.15$ percent of the long$-$term capital gain and the gain may be ncontaxable depending on the taxpayer's tax

bracket. Short$-$term capital gains are taxed as ordinary income.

B$.35$ percent of the long$-$term capital gain and the gain may be nontaxable depending on the taxpayer's tax

bracket. Short$-$term capital gains are taxed as ordinary income.

C$.15$ percent of the short$-$term capital gain and the gain may be nontaxable depending on the taxpayer's tax

bracket. Long$-$term capital gains are taxed as ordinary income.

D$.35$ percent of the short$-$term capital gain and the gain may be nontaxable depending on the taxpayer's tax

bracket. Long$-$term capital gains are taxed as ordinary income.