This year, Sigma, Incorporated generated $677,250 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	$ 162,000	$ 0	$ 83,750
Production equipment	95,200	76,160	35,200
Business realty:
Land	238,500	0	246,750
Building	240,000	72,000	230,500

*Through date of sale.

Required:

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.

Recompute taxable income assuming that Sigma sold the securities for $172,000 rather than $83,750.