Mike Mulligan Excavation Inc. has one Caterpillar 345DL Hydraulic Excavator. It was purchased at the beginning of 2014 for $300,000. The excavator is classified as 10-year property. (MACRS depreciation rates of 10% and 18% in the first two years.) What is the tax on sale if Mike sells the 345DL at the end of 2015 for $154,000? (Round to the nearest dollar.) Assume a corporate tax rate of 35%.