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 $ 232,200 $ 202,200 $ 54,200 Equipment 82,200 150,200 25,200 Lily's taxable income before these transactions is $192,700. What are Lily's taxable income and tax liability for the year? Use Tax Rate Schedule for reference.