The entity reports the following transactions for the 2019 tax year. The trustee accumulates all accounting income for the year.

Operating income from a business	$835,000
Dividend income, all from U.S. corporations	50,100
Interest income, City of San Antonio bonds	6,680,000
Fiduciary fees, deductible portion	(25,050)
Net rental losses, passive activity	(167,000)

Carryout the tax computations to two decimal places and round the final tax liability to the nearest dollar.

Compute the Federal income tax liability for the Valerio Trust by providing the following amounts:

The amount of the fiduciary's gross income taxed at 20% for the Valerio Trust is $.50100 The fiduciary taxable income taxed at ordinary rates for the Valerio Trust is $.809850 The Federal income tax liability for the Valerio Trust is $______?

(Congress's desire to stop trusts from being used as income-shifting devices has made the fiduciary entity the highest-taxed taxpayer in the Code. The entity reaches the The entity reaches the 37 percent marginal rate with only $12,750 of 2019 taxable income, so the grantor's ability to shift income in a tax-effective manner is nearly eliminated.)