Return to que 46 Problem 11-48 (LO 11-3, LO 11-4, LO 11-5) (Algo) 0.07 points Lily Tucker (single) owns and operates a bike shop as a sole proprietorship. In 2020, she sells the following long-term ass used in her business: Asset Building Equipment Sales Price $230,600 80,688 Cost $200,600 148,600 Accumulated Depreciation $52,600 23,600 Lily's taxable income before these transactions is $191,100.What are Lily's taxable income and tax liability for the year? Use Rate Schedule for reference. (Do not round Intermediate calculations. Round your answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. Description Amount Taxable income $ 227,500 Tax liability s 51,226