Santini's new contract for $2023$ indicates the following compensation and benefits:

Benefit Description Amount

Salary $ $132,000$

Health insurance $11,000$

Restricted stock grant $2,500$

Bonus $5,400$

Hawaii trip $4,400$

Group$-$term life insurance $2,000$

Parking $($$$338$ per month$)4,056$

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 $$17\mathrm{.}50$ per share. Also assume that Santini is willing to make any elections to reduce equity$-$based compensation taxes. The Hawaii trip was given to him as the outstanding salesperson for $2022.$ The group$-$term life policy gives him $$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.

a$.$ What is the taxable income?

b$.$ What is the income tax liability?