This year, Sigma Incorporated generated $666,750 income from its routine business operations. In addition, the corporation sold the following assets, all of which were held for more than 12 months:

	Initial Basis	Accumulated Depreciation*	Sale Price
Marketable securities	$ 179,200	$ 0	$ 78,750
Production equipment	132,400	105,920	36,350
Business realty:
Land	236,250	0	247,750
Building	273,500	82,050	241,000

*Through date of sale.

Required:

1. Compute Sigmas taxable income assuming that it used the straight-line method to calculate depreciation on the building and has no nonrecaptured Section 1231 losses.
2. Recompute taxable income assuming that Sigma sold the securities for $186,000 rather than $78,750.