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the tax liability is wrong can someone please help!!!! Lily Tucker (single) owns and operates a bike shop as a sole proprietorship. In 2022, she

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Lily Tucker (single) owns and operates a bike shop as a sole proprietorship. In 2022, she sells the following long-term assets used in her business: Lily's taxable income before these transactions is $195,300. What are Lily's taxable income and tax liability for the year? Use Tax Rate Schedule for reference. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. To calculate Lily Tucker's taxable income and tax liability for the year: Explanation: Profit/ loss of assets=[Sales price-(Cost price- Accumulated Depreciation)] Step 2/2 Lily's tax liability for the year: Total taxable income after adjustment =$2,41,900 Tax Rate Schedules Individuals: 2022 Tax Rate Schedules Individuals Schedule X-Sinele

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