Exercise 28-12 (Algorithmic) (LO. 1) The entity reports the following transactions for the 2020 tax year. The trustee accumulates all accounting income for the year. Operating income from a business $525,000 31,500 Dividend income, all from U.S. corporations (20% tax rate) Interest income, City of San Antonio bonds 4,200,000 Fiduciary fees, deductible portion (15,750) Net rental losses, passive activity (105,000) 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 fiduciary's gross income taxed at 20% for the Valerio Trust is $ 31,500 The fiduciary taxable income taxed at ordinary rates for the Valerio Trust is $ 509,150 The Federal income tax liability for the Valerio Trust is $ 192,801 X