Tony Rogers recognizes the following capital gains and losses during 2016: Short-term capital gain from the sale of stock held for investment $20,000 Short-term capital loss from the sale of land held as an investment (22,000) Long-term capital gain from the sale of corporate bonds 20,000 Long-term capital loss from the sale of common stock (14,000) Compute Tony’s net capital gain. If Tony’s taxable income (before considering the above items of gain or loss) is $55,000, what would be his 2016 tax liability? Tony’s filing status is single.