Benefit Description Amount Salary $ $134,000$ Health insurance $13,000$ Restricted stock grant $2,500$ Bonus $5,800$ Hawaii trip $4,800$ Group$-$term life insurance $2,400$ Parking $($$$361$ per month$)$ Santini's new contract for $2024$ indicates the following compensation and benefits: $4,332$ Santini is $54$ years old at the end of $2024.$ He is single and has no dependents. Assume that the employer matches $$1$ for $$1$ for the first $$7,600$ that the employee contributes to his $401($k$)$ during the year. The restricted stock grant is $500$ shares granted when the market price was $$5$ per share. Assume that the stock vests on December $31,2024,$ and that the market price on that date is $$27\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 $2023.$ 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 $2024.$ Use Tax rate schedules and Exhibit $12-8.$ Note: Round your answers to the nearest whole dollar amount. Description Amount Taxable Income $ $157,482$ Income Tax Liability $31,196$