A CCPC has:

Canadian Patent income $45,000

Canadian Rental income 35,000

Taxable capital gains 60,000

Recapture of CCA 15,000

Canadian eligible investment dividends 12,500

Canadian eligible dividends from subsidiary 17,500

Canadian investment interest income 50,000

Canadian active business income 460,000

Division B 695,000

The CCPC deducted $14,000 net capital loss carry forward, a business loss of $42,500, charitable donations of $25,000 to calculate Division C. The CCPC deducted a SBD of $7,125 to calculate Part 1 taxes.

Required:

Calculate Part 1 Taxes and the refundable portion of Part I Taxes.