Cole, an unmarried individual with no dependents, has the following income items:

Interest income $ $23,200$

Schedule C net profit $61,640$

Cole has $$10,300$ itemized deductions and the Schedule C income is qualified business income $($non$-$service$).$

Required:

Compute Cole$$s income tax. Assume the taxable year is $2023.$ Use Individual Tax Rate Schedules and Standard Deduction Table.

Note: Round your intermediate calculations and final answers to the nearest whole dollar amount.

Calculate AGI, Taxable Income and Income Tax