Shimmer Inc. is a calendar-year-end, accrual-method corporation. This year, it sells the following long-term assets: Asset Building Sparkle Corporation stock Sales Price Cost $692,000 $685,000 207,000 253,000 Accumulated Depreciation $39,000 n/a Shimmer does not sell any other assets during the year, and its taxable income before these transactions is $822,000. What are Shimmer's taxable income and tax liability for the year? Answer is complete but not entirely correct. Taxable income $ 822,000 X 172,620 Tax liability $ Shimmer Inc. is a calendar-year-end, accrual-method corporation. This year, it sells the following long-term assets: Asset Building Sparkle Corporation stock Sales Price Cost $692,000 $685,000 207,000 253,000 Accumulated Depreciation $39,000 n/a Shimmer does not sell any other assets during the year, and its taxable income before these transactions is $822,000. What are Shimmer's taxable income and tax liability for the year? Answer is complete but not entirely correct. Taxable income $ 822,000 X 172,620 Tax liability $