Tango Corporation (the Company) is a C Corporation whose stock is owned by one individual. On December 31, 2021 the Company intends to distribute a vacant real estate lot to its sole shareholder. The lot has a cost basis of $25,000 and a current fair market value of $125,000. As of December 31, 2020, the Company has a federal net operating loss carryforward of $55,000. Prior to the Company's distribution of the vacant real estate lot and prior to any net operating loss deduction the Company has for the year ended December 31, 2021 taxable income of $600,000. The Company's taxable income of $600,000 is after a deduction for the Company's state income taxes for 2021. Required: Calculate the Company's total Federal taxes for the year ended December 31, 2021 using a flat 21% federal rate.