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

Asset	Sales Price	Cost	Accumulated Depreciation
Building	$ 240,000	$200,000	$52,000
Equipment	80,000	148,000	23,000

Lilys taxable income before these transactions is $160,500. What is Lilys tax liability for the year?

USE 2018 TAX RATE SCHEDULE FOR SINGLE TAX PAYER