AB Trust is a calendar year taxpayer. In the current year, its books provide the following:

Gross Rental Income $25,000

Taxable Interest Income 10,000

Tax-Exempt Interest Income 15,000

Long-term capital gain 8,000

Trustee Fees 6,000

Rent Expense 3,000

Contribution to Charity 1,500

Distributions

Beneficiary A 20,000

Beneficiary B 20,000

According to the trust, capital gains and 1/3 of the trustees fee are allocable to principal. The trustee is required to maintain a reserve for depreciation on the rental property equal to 1/10^th of annual gross rental income (assume actual depreciation is $1,300). The trustee is required to make an annual distribution to Beneficiary A of $12,000 and has the discretion to make distributions to both Beneficiaries A and B.

What is the taxable income for the Trust and the Beneficiaries