$17.(6$ marks$)$

During the year ended December $31,2023,$ Windsor Ltd$.,$ a non$-$resident controlled private corporation operating only in Windsor Ontario, has net income for tax purposes under Division B of $ $650,000,$ which amount includes $ $60,000$ of dividends from taxable Canadian corporations,

$ $40,000$ of dividends from U$.$S$.$ Corporations in which the company has an $15\%$ common share interest and $ $550,000$ of manufacturing and processing profit. The company paid $ $100,000$ of charitable donations during the $2023$ year.

The company wants to maximize any claim for the small business deduction as part of its tax strategy to minimize income taxes

$.$

Required: $($show all calculations$)$

Part a$.(5$ marks$)$

$1.$ Calculate Windosr Ltd$.$s federal taxable income for $2023.$

$2.$ Calculate Windsor Ltd$.$s $2023$ federal Part I tax payable.

Part b$.(1$ mark$)$

$3.$Calculate Windsor Ltd$.$s $2023$ federal Part I tax payable assuming $40\%$ of M&P profit was earned in a province or territory in Canada.