Exercise 20-12 (Algorithmic) (LO. 1) The entity reports the following transactions for the 2022 tax year. The trustee accumulates all accounting income for the year. 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 nearest dollar. 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 $ The Trustee taxable income taxed at ordinary rates for the Valerio Trust is \$ The Federal income tax liability for the Valerio Trust is \$ Income Tax Rates-C Corporations, 2018 and After For all taxable income levels, the tax rate is 21%. Income Tax Rates-Estates and Trusts