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

Asset	Sales Price	Cost	Accumulated Depreciation
Building	$650,000	$642,000	$37,000
Sparkle Corporation stock	130,000	175,000	n/a
Shimmer does not sell any other assets during the year, and its taxable income before these transactions is $800,000. What are Shimmer's taxable income and tax liability for the year? Use Corporate Tax Rate Table.