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

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 $$70\mathrm{.}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

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.

Answer is complete but not entirely correct.