The entity reports the following transactions for the 2016 tax year. The trustee accumulates all accounting income for the year.

Operating income from a business	$675,000
Dividend income, all from U.S. corporations	40,500
Interest income, City of San Antonio bonds	5,400,000
Fiduciary fees, the deductible portion	(20,250)
Net rental losses, passive activity	(135,000)

The fiduciary income taxed at 20% for the Valerio Trust is $. The fiduciary taxable income taxed at ordinary rates for the Valerio Trust is $. The Federal income tax liability for the Valerio Trust is $.