Tau Corporation formed 15 years ago in its first year, it elicted to use the cash method of accounting and adopted a calendar year at ee year I made an 5 election on August 15 of last yea Tau's current tax year. At the beginning of the current year, Tau had assets with a $470,000 FMV and a $150,000 adjusted banis During the current year, Tau reports taxable income of $440,000 Requirement What is the amount of Tau's built-in gains tax liability? Begin by computing Tau's recognized buitt-in gains. (Use parentheses or a minus sign for negative amounts.)