LORI Corporation reports the following results for the current year:

What are LORI's taxable income and income tax liability?

$\backslash$table$[[$Gross profits on sales,$],[$Short$-$term capital gain,$25,000],[$Long$-$term capital gain,$1705,000],[$Dividends from $25\%-$owned domestic corporation,$60,000],[$NOL carryover from the preceding tax year,$12,000],[$Operating expenses,$90,000]]$

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