38. Ted Thomas, a single taxpayer has the following transactions in 2018: AGI (before capital gains and$500,000 losses) Long-term capital gain 18,000 Long-term capital loss (4,000) Short-term capital gain6,000 Short-term capital loss (8,000)a. What is Ted’s net capital gain or loss? Short Term Capital Loss can be set off against Long Termb. If your answer to (a) was a net capital gain, what is the maximum rate at which it would be taxed?c. If his AGI were $25,000, what is the maximum rate at which it would be taxed? LTCG shall be taxable39. Gordon Grumps is married and files separately. During 2018, he had the following capital gains andlosses: STCL ($1,000) STCG 1,900 STCL carryover from 2017 (200) LTCG 600 LTCL (10,000)Gordon’s taxable income is $6,000. What is Gordon’s capital loss deduction for 2018 and his carryover?