Problem 11-49 (LO 11-3, LO 11-4, LO 11-5) (Algo) Shimmer Incorporated is a calendar-year-end, accrual-method corporation. This year, it sells the following long-term assets: Asset Building Sparkle Corporation stock Sales Price $ 758,000 169,000 Cost $ 717,000 250,500 Accumulated Depreciation $ 40,500 n/a Shimmer does not sell any other assets during the year, and its taxable income before these transactions is $810,000. What are Shimmer's taxable income and tax liability for the year? Description Amount Taxable income Tax liability