1. Grant is age 50 and makes a salary of $120,000 per year. He contributed $10,000 to his RRSP this year and purchased 1,000 shares of RTP Corp when the share price was $10. Throughout the year, Grant received a total of $340 in eligible dividends from RTP Corp, and subsequently sold the stock later that year when the share price was $11.30. Grant is in a 42% marginal tax rate and gross up for eligible dividends is 38% with a corresponding dividend tax credit of 26%. Which of the statements regarding Grants situation is correct?

a. Grants total tax owing on the RTP capital gain and dividend is $312.38

b. Grant can reduce his net income to $110,000 by claiming the RRSP deduction

c. Grant has a taxable capital gain of $565 on the sale of the RTP shares

d. Grant must include $469.20 in his income in relation to the RTP dividend