Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line Incorporated (BLI). As part of their discussions with the sole shareholder of the corporation, Ernesto Young, they examined the company's tax accounting balance sheet. The relevant information is summarized as follows:

	FMV	Adjusted Tax Basis	Appreciation
Cash	$ 26,250	$ 26,250
Receivables	18,500	18,500
Building	139,000	69,500	69,500
Land	258,000	86,000	172,000
Total	$ 441,750	$ 200,250	$ 241,500
Payables	$ 20,900	$ 20,900
Mortgage*	117,750	117,750
Total	$ 138,650	$ 138,650

* The mortgage is attached to the building and land.

Ernesto was asking for $522,350 for the company. His tax basis in the BLI stock was $121,000. Included in the sales price was an unrecognized customer list valued at $123,000. The unallocated portion of the purchase price ($96,250) will be recorded as goodwill. (Negative amounts should be indicated by a minus sign.)

a. What amount of gain or loss does BLI recognize if the transaction is structured as a direct asset sale to Amy and Brian? What amount of corporate-level tax does BLI pay as a result of the transaction?