(LO5) Theo, single, is the sole shareholder of Theo's Tool and Dye, Inc., a tool and dye manufacturing company operating as an \(S\) corporation. Theo reports qualified business income of \(\( \$ \) 118,000\) and he has no employees. He also has qualified dividend income of \(\( \$ \) 4,400\). He has no itemized deductions and claims the standard deduction of \(\( \$ \) 13,850\) on his 2023 Form 1040. What is Theo's qualified business income deduction?