Shimmer Inc. is a calendar-year-end, accrual method corporation. This year 2016, it sells the following long-term assets:

Asset Sales Price Cost Accumulated Depreciation

Building $738,000 $723,000 $41,500

Sparkle Corporation stock $170,000 $242,000 n/a

Shimmer does not sell any other assets during the year, and its taxable income before these transactions is $812,000. What are Shimmer's taxable income and tax liability for the year? Use Corporate Tax Rate Table.

Taxable income =

Tax liability =