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Shimmer Inc. is a calendar-year-end, accrual-method corporation. This year, It sells the following long-term assets:...

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Shimmer Inc. is a calendar-year-end, accrual-method corporation. This year, It sells the following long-term assets: Accumulated Asset Sales Price CostDepreciation Building Sparkle Corporation stock $745,888 $737,888 155,888 218,888 $49,888 n/a Shimmer does not sell any other assets during the year, and Its taxable Income before these transactions Is $889,000. what are shimmers taxable income and tax liability for the year? (New, Corporate income tax rate has been mentioned as "21% on all texable Income" as per the recent change.) Taxable income Tax liability

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