The entity reports the following transactions for the 2021 tax year. The trustee accumulates all accounting ir Operating income from a business $695,000 41,700 Dividend income, all from U.S. corporations (20% tax rate) Interest income, City of San Antonio bonds 5,560,000 Trustee fees, deductible portion (20,850) Net rental losses, passive activity (139,000) Click here to access tax table for this problem. Carryout the tax computations to two decimal places and round the final tax liability to the neare Compute the Federal income tax liability for the Valerio Trust by providing the following amounts: The amount of the trustee's gross income taxed at 20% for the Valerio Trust is $ 41,700 The Trustee taxable income taxed at ordinary rates for the Valerio Trust is $ 674,050 The Federal income tax liability for the Valerio Trust is $ Income Tax Rates-Estates and Trusts Tax Year 2021 The Tax is: Taxable income Over- $ 0 2,650 9,550 13,050 But not Over- $ 2,650 9,550 13,050 10% $ 265.00 + 24% 1,921.00 + 35% 3,146.00 + 37% of the Amount Over- $ 0 2,650 9,550 13,050 Income Tax RatesC Corporations, 2018 and after For all income levels, the tax rate is 21%