Lily Tucker (single) owns and operates a bike shop as a sole proprietorship. In 2021, she sells the following long-term assets used in her business:

Asset	Sales Price	Cost	Accumulated Depreciation
Building	$ 230,200	$ 200,200	$ 52,200
Equipment	80,200	148,200	23,200

Lily's taxable income before these transactions is $190,700. What are Lily's taxable income and tax liability for the year? Use Tax Rate Schedule for reference. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)

Amount Description Taxable income Tax liability