Felipe, a single taxpayer, is a technology consultant, who operates as a sole proprietorship. Felipes net business income is $600,000 (net of the associated for AGI self-employment tax deduction), he pays wages of $100,000 to his employees, and he has $200,000 of qualified property (unadjusted basis). Felipes taxable income before the deduction for qualified business income is $500,000. Assume he has no capital gains or qualified dividends.

Calculate Felipes deduction for qualified business income.