Through November, Cameron has received gross income of $$126,000.$ For December, Cameron is considering whether to accept one more work engagement for the year. Engagement $1$ will generate $$8,560$ of revenue at a cost to Cameron of $$3,600,$ which is deductible for AGI. In contrast, engagement $2$ will generate $$6,200$ of qualified business income $($QBI$),$ which is eligible for the $20$ percent QBI deduction. Cameron files as a single taxpayer.

Calculate Cameron's taxable income assuming he chooses engagement $1$ and assuming he chooses engagement $2.$ Assume he has no itemized deductions.

$\backslash$table$[[$Description$,$Engagement $1,$Engagement $2],[(1)$ Gross income before new work engagement,$$,126,000,$$$,126,000],[(2)$ Income from engagement,,$8,560,,6,200],[(3)$ Additional for AGI deduction,,$3,600,,],[(4)$ Adjusted gross income,$$,130,960,$$$,132,200],[(5)$ Greater of itemized deductions or standard deduction,,$12,950,,12,950],[(6)$ Deduction for QBI,,$-1,,1,240],[$Taxable income,$$,118,010,$$$,118,010]]$