earnings and profits from its prior years as a C corporation): Asset Cash Accounts receivable Inventory Land Totals Adjusted Basis FMV $ 23,000 $ 23,000 41,800 41,800 172,000 218,000 162,eee 126,000 $398,800 $488,800 Tempe Corp's business income for the year was $43,000 (this would have been its taxable income if it were a C corporation) During 2019. Tempe Corp. sold all of the inventory it owned at the beginning of the year for $234,000. c. Assume the original facts except that the land was valued at $152.000 instead of $126,000. What is Tempe Corp.'s built-in gains tax in 2019? Answer is complete but not entirely correct. Built-in gans $ 6,300