Thad, a single taxpayer, reports taxable income before the QBI deduction of $190,700. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During the tax year, his proprietorship generates qualified business income of $150,000 after deducting selfemployment taxes, W–2 wages of $125,000, and $10,000 of qualified property. What is Thad’s QBI deduction?