Shimmer Inc. is a calendar-year-end, accrual-method corporation. This year, it sells the following long-term assets: Accumulated iation Sales Price Asset Cost De $24,500 n/a Building $698,000 $667,000 218,000 Sparkle Corporation s tock 285,000 Shimmer does not sell any other assets during the year, and its taxable income before these transactions is $874,000. What are Shimmer's taxable income and tax liability for the year? (New Corporate income tax rate has been mentioned as "21% on all taxable income" as per the recent change.) Taxable income Tax liability