Comprehensive Problem 12-51 (LO 12-1, LO 12-2, LO 12-3) (Algo) Santini's new contract for 2023 indicates the following compensation and benefits: Salary oped Book Print erences Benefit Description Health insurance Restricted stock grant Bonus Hawaii trip Group-term life insurance Parking ($336 per month) Amount $ 131,500 10,500. 2,500 5,300 4,300 1,900 4,032 Santini is 54 years old at the end of 2023. He is single and has no dependents. Assume that the employer matches $1 for $1 for the first $6,000 that the employee contributes to his 401(k) during the year. The restricted stock grant is 500 shares granted when the market price was $5 per share. Assume that the stock vests on December 31, 2023, and that the market price on that date is $15.00 per share. Also assume that Santini is willing to make any elections to reduce equity-based compensation taxes. The Hawaii trip was given to him as the outstanding salesperson for 2022. The group-term life policy gives him $150,000 of coverage. Assume that Santini does not itemize deductions for the year. Determine Santini's taxable income and income tax liability for 2023. Use Tax rate schedules and Exhibit 12-8. Note: Round your answers to the nearest whole dollar amount. Description Taxable Income Income Tax Liability Amount