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Santini's new contract for 2021 indicates the following compensation and benefits: Benefit Description Amount Salary $ 134,500 Health insurance 13,500 Restricted stock grant 2,5ee Bonus 5,900 Hawali trip 4,900 Group-tere life insurance 2.500 Parking (5318 per month) 3,816 Santini is 54 years old at the end of 2021. 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 401K) 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, 2021, and that the market price on that date is $30.00 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 2020 The group-term life policy gives him $150.000 of coverage. Assume that Santini does not itemize deductions for the year. Determine Santinis taxable income and income tax liability for 2021 Use Tax rate schedules and Exhibk128 (Round your answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) Description Taxable Benefits Salary Amount EXHIBIT 12-8 Uniform Premiums for $1,000 of Group-Term Life Insurance Protection Table Summary: Chart shows cost per $1,000 of life insurance protection for one month per 5-year age bracket. 5-Year Age Bracket Cost per $1,000 of Protection for One Month Under 25 $0.05 25 to 29 .06 30 to 34 OS 35 to 39 09 40 to 44 .10 45 to 49 15 50 to 54 23 55 to 59 43 60 to 64 66 65 to 69 1.27 70 and above 2.06 Source: Reg $1.29-3d2). 2021 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over:But not over: The tax is: $ 0 $ 9,950 10% of taxable income $ 9,950 $ 40,525 $995 plus 12% of the excess over $9.950 $ 40,525 $ 86,375 $4,664 plus 22% of the excess over $40,525 $ 86,375 $ 164,925 $14.751 plus 24% of the excess over $86,375 $ 164,925 $ 209,425 $33,603 plus 32% of the excess over $164,925 $ 209,425 $ 523,600 $47,843 plus 35% of the excess over $209,425 $ 523,600 $157,804.25 plus 37% of the excess over $523,600 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: $ 0 $ 19,900 10% of taxable income S 19,900 $ 81,050 $1,990 plus 12% of the excess over $19.900 $ 81,050 S 172.750 $9,328 plus 22% of the excess over $81,050 $ 172.750 $ 329,850 $29,502 plus 24% of the excess over $172.750 $ 329,850 $ 418,850 $67,206 plus 32% of the excess over $329,850 S 418,850 S 628,300 $95.686 plus 35% of the excess over $418,850 $ 628,300 $168.993.50 plus 37% of the excess over $628,300 Schodu Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $ 0 $ 14,200 10% of taxable income $ 14,200 S 54,200 $1,420 plus 12% of the excess over $14,200 $ 54,200 $ 86,350 $6,220 plus 22% of the excess over $54,200 $ 86,350 S 164,900 $13,293 plus 24% of the excess over $86,350 $ 164,900 $ 209,400 $32,145 plus 32% of the excess over $164,900 $ 209,400 S 523,600 $46,385 plus 35% of the excess over $209,400 $ 523,600 $156,355 plus 37% of the excess over $523,600 Schedule Y-2-Married Filing Separately If taxable income is over:But not over: The tax is: $ 0 $9.950 10% of taxable income $ 9,950 S 40,525 $995 plus 12 of the excess over $ 9.950 $ 40,525 S 86,375 $4,664 plus 22% of the excess over $40,525 $ 86,375 S 164,925 $14,751 plus 24% of the excess over $86,375 S 164,925 $ 209,425 $33,603 plus 32o of the excess over $164.925 $ 209,425 $ 314,150 S47,843 plus 35% of the excess over $209,425 S 314,150 584,496.75 plus 37 of the excess over $314,150 Type here to search HE Amount Description Taxable Benefits Salary Restricted stock grant Bonus Hawaii trip Life Insurance (taxable portion) Parking AGI Standard Deduction Taxable income Income Tax Liability $ 0