Matulis, Inc., a C corporation, owns a single asset with a basis of $497,600 and a fair market value of $1,194,240. Matulis elects S corporation status. Matulis holds a positive E \& P balance. The entity elects S corporation status for 2023 and then sells the asset. Compute the corporate-level built-in gains tax that must be paid by Matulis. If required, round your answer to the nearest dollar. \$