Santini's new contract for 2022 indicates the following compensation and benefits:

Benefit Description	Amount
Salary	$ 142,500
Health insurance	21,500
Restricted stock grant	2,500
Bonus	7,500
Hawaii trip	6,500
Group-term life insurance	4,100
Parking ($360 per month)	4,320

Santini is 54 years old at the end of 2022. 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, 2022, and that the market price on that date is $70.00 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 2021. 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 2022. Use Tax rate schedules and Exhibit 12-8.

Taxable Income:

Income Tax Liability: