Shimmer Inc. is a calendar-year-end, accrual method corporation. This year, it sells the following long-term assets:

Asset	Sales Price	Cost	Acumulated Depreciation
Building	742,000	736,000	52,500
Sparkle Corporation Stock	156,000	212,000	n/a

Shimmer does not sell any other assets during the year, and its taxable income before these transactions is $892,000.

What are Shimmer's taxable income and tax liability for the year? Use Corporate Tax Rate Table.

Taxable income: ?

Tax liability: ?