1. Capital Gains Tax. Thomas purchased 400 shares of stock A for $23 a share and sold them more than a year later for $20 per share. He purchased 500 shares of stock B for $40 per share and sold them for $53 per share after holding them for more than a year. Both of the sales were in the same year. If Thomas is in a 25% tax bracket, what will his capital gains tax be for the year?

2. Capital Loss. Charles just sold 500 shares of stock A for $12,000. In addition, he just sold 600 shares of stock A for $6,000. Charles had paid $20 per share for all his shares of stock A. What amount of loss will he have, assuming both sales were on stocks held for more than one year?