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 $725,000

Dividend income, all from U.S. corporations 43,500

Interest income, City of San Antonio bonds 5,800,000

Fiduciary fees, deductible portion(21,750)

Net rental losses, passive activity(145,000)

The amount of the fiduciary's gross 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 ____?

Income Tax RatesEstates and Trusts Tax Yea r 20 1 9 Taxable Income The Tax ls: Of the But not Amount Over Over Over 5 0 5 2,600 10% S 0 2,600 9.300 5 260.00 + 24% 2,600 9,300 12,750 1,868.00 + 35% 9,300 12,750 ......... 3,075.50 + 37% 12,750 Tax Yea r 20 1 8 Taxable Income The Tax ls: Of the But not Amount Over Over Over 5 0 5 2,550 10% S 0 2,550 9,150 5 255.00 + 24% 2,550 9,1 50 12,500 1,839.00 + 3596 9,1 50 12,500 ......... 3,011.50 + 37% 12,500