Shimmer Incorporated is a calendar-year-end, accrual-method corporation. This year, it sells the following long-term assets: Asset Building Sparkle Corporation stock Sales Price $750,000 167,000 Cost $741,000 227,500 Accumulated Depreciation $ 51,500 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? Description Amount Taxable income Tax liability