During 2014, Jackson Had the Following Capital Gains and Losses

Essay

During 2014, Jackson had the following capital gains and losses:
$\begin{array}{llr} \text { Gain from the sale of coin collection (held three years) } &\$12,000\\ \text { Gain from the sale of land held as an investment for six years } &9,000\\ \text {Gain from the sale of stock held as an investment (held for 10 months) } &3,000\end{array}$

a. How much is Jackson's tax liability if he is in the 15% tax bracket?
b. If his tax bracket is 33% (not 15%)?