On February 7, 2024, Snow Corporation, a cash basis calendar year C corporation, elected S status effective for January 1, 2024. On January 1, Snow Corporations balance sheet included the following assets:

Item	Adjusted Basis	Fair Market Value
Inventory	17,000	35,000
Land	45,000	40,000
Equipment	50,000	44,000

During the current year, Snow Corporation sold all its inventory for $41,000. It also sold the equipment for $31,000 (Snow Corporation did not claim any more depreciation on the equipment this year, so its basis at the time of sale is $50,000). Snow Corporations taxable income limitation is $26,000 for the current year. Compute Snow Corporations built-in gains tax.