Jake, a veterinarian, is engaged in a specified service trade or business. He is single, with taxable income of $195,000. As Jake's Tax Professional, you use the ten-step process to compute his qualified business income deduction. Your last step in the computation process is to figure his:

Limitation based on Form W-2 wages paid by his business.

Phase in limitation.

Phaseout limitation.

Limitation based on the unadjusted basis of qualified property held by his business.