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

Interest income $ $23,500$

Schedule C net profit $60,160$

Cole has $$10,150$ 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.