Compute the Federal income tax liability for the Valerio Trust. The entity reports the following transactions for the 2022 tax year. The trustee accumulates all accounting income for the year. Operating income from a business: $500,000

Dividend income, all from US corporations (20% tax rate): $30,000

Interest income, City of San Antonio bonds: $40,000

Trustee fees, deductible portion: ($15,000)

Net rental losses, passive activity: ($100,000)