Matulis, Inc., a C corporation, owns a single asset with a basis of $334,400 and a fair market value of $802,560. Matulis elects S corporation status. Matulis holds a positive E & P balance. The entity elects S corporation status for 2020 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. $.__________________

note $98314 is not correct