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	$750,000	$741,000	$51,500
Sparkle Corporation stock	167,000	238,000	n/a

Shimmer does not sell any other assets during the year, and its taxable income before these transactions is $896,000.

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.)