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Lily Tucker (single) owns and operates a bike shop as a sole proprietorship. In 2023...

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Accounting

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Lily Tucker (single) owns and operates a bike shop as a sole proprietorship. In 2023 , she sells the following long-term assets used in her business: Lily's taxable income before these transactions is $193,900. What are Lily's taxable income and tax liability for the year? Use Tax Rate Schedule for reference. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount

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