12 10 Santini's new contract for 2017 indicates the following compensation and benefits: Salary Health insurance Restricted stock grant Bonus Hawaii trip Group-term life insurance Perking (5337 per nonth) 5130, sae 10, lae 3,6ae s, 55e 1,823 3,684 Santini is 54 years old et the end of 2017 He is single end has no dependents. Assume that the employer matches Sl for Sl for the first $6,000 thet the employee contributes to his 401(k) during the year The 100 ISOs each allow the purchase of 10 shares of stock at e strike price of $72 (also the market price on the date of grantb The ISOs vest in two years when the stock price is expected to be SIS and Santini expects to sell the shares in three years when the market price is S20 The restricted stock grant is 500 shares granted when the market price wes $72 per share. Assume thet the stock vests on December 31, 2017, end thet the market price on that date is S97 per shere_ Also assume thet Santini is willing to make any elections to reduce equity-based compensation taxes. The Hawaii trip was given to him as the outstanding sales person for 2016 The group-term life policy gives him SISO,OOO of coverage. Assume that Santini does not itemize deductions for the yeer_ Assume that Santini makes a section 83(b) electiom Determine Santini's taxable income end income tax liability for 2017 use Tex rete schedules ond Exhibit 12-10. (Do not round intermediate computations. Round your finel answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) Taxable Benefits Salary Restricted stock grant Bonus Hawaii trip Lite Insurance (taxable portion) Parking : AGI Standard Deduction Personal Exemption Taxable Income Income Tax Liability 130,500 3,600 5,550 4,440 144,ggo 6,350 4.050 134,590