Lily Tucker $($single$)$ owns and operates a bike shop as a sole proprietorship. In $2023,$ she sells the following long$-$term assets used in her business:

Asset Sales Price Cost Accumulated Depreciation

Building $ $231,200$ $ $201,200$ $ $53,200$

Equipment $81,200149,20024,200$

Lily's taxable income before these transactions is $$191,700.$ What are Lily's taxable income and tax liability for the year? Use Tax Rate Schedule for reference.