2. Shawn Green was employed by ABC Ltd. (a Canadian controlled private corporation) from January to December of 2020. Shawn earned a gross salary of $72,000. The following deductions were made during the year: Income tax $20,000 Canada Pension Plan $ 2,898 Employment Insurance $ 856 Registered Pension Plan contribution $ 3,000 The following amounts were paid by ABC Ltd. in 2020 on Shawn's behalf: Canada Pension Plan $2,898 Employment Insurance $1,198 Registered Pension Plan $3,000 Group life insurance $1,200 1. Additional information: On January 15, 2018, Shawn was given an option to purchase 500 shares of ABC for $5.00 per share when the market value was $5.50. Shawn exercised the option on June 1, 2019 when the shares were valued at $7.00, and sold the shares on March 17, 2020 when the market value was $8.00 per share. Shawn pays $50 a month for a personal cell phone. Shawn purchased $300 worth of merchandise (at cost) from ABC Ltd. during the year. The retail value of the merchandise was $500. Shawn also contributed $1,000 to an RRSP during the year. Question: A) Calculate Shawn's minimum net income for tax purposes for 2020, in accordance with Section 3 of the Income Tax Act.