Compute the Federal income tax liability for the Valerio Trust. The entity reports the following transactions for the 2015 tax year. The trustee accumulates all accounting income for the year.

Operating income from a business	$500,000
Dividend income, all from U.S. corporations	30,000
Interest income, City of San Antonio bonds	40,000
Fiduciary fees, deductible portion	(15,000)
Net rental losses, passive activity	(100,000)

Carryout the tax computation to two decimal places and if required, round the final tax liability to the nearest dollar.

The Federal income tax liability for the Valerio Trust is $ ?