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

Shimmer does not sell any other assets during the year, and its taxable income before these transactions is $810,000.

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.)

a.Taxable Income :

b. Tax Liability :

Accumulated Depreciation $49, 500 Asset Sales Price Cost Building Sparkle Corporation stock $758,000 $717,e0e 169,000 256,000 n/a