Brandon, an individual, began business four years ago and has sold sect 1231 assets with $5,850 of losses within the last 5 years. Brandon owned each of the assets for several years. In the current year, Brandon sold the following business assets: Assuming Brandon’s marginal ordinary income tax rate is 35 percent, what effect do the gains and losses have on Brandon’s tax liability? $14,550 sect 1231 gain, $2,800 ordinary income, and $3163 tax liability. $17,350 ordinary income, $6,073 tax liability. $2,800 sect 1231 gain, $14,550 ordinary income, and $5,513 tax liability. $17,350 sect 1231 gain and $2,603 tax liability. None of the choices are correct.