Brax Inc. is a CCPC with a calendar-based taxation year end. The following information relates to its 2022 taxation year:

1. At the beginning of 2022, the companys balance in its Non-Eligible RDTOH is $9,000, its Eligible RDTOH is nil and the GRIP balance is also nil.

2. Brax Inc. owns 55% of the outstanding shares of Sax Ltd. On September 1, 2022, Sax Ltd. declared and paid a non-eligible dividend of $40,500, of which Brax Inc. received $22,275 (55%). As a result of paying the $40,500 dividend, Sax Ltd. received a dividend refund in the amount of $6,000.

3. Other 2022 income of Brax Inc. included the following amounts:

o Capital Gain (Sale of Land) $19,200

o Eligible Dividends from Canadian Public Companies 3,400

o Interest income 900

The interest is on deposits of temporary cash balances set aside for the purchase of inventory.

4. The companys 2022 taxable income is $81,000. There was no foreign income in 2022. Assume the Part I income tax payable for the 2022 taxation year, was correctly calculated as $18,500. Because of its association with Sax Ltd., Braxs share of the annual business limit on income eligible for the SBD is $25,000. Braxs active business income is greater than its share of the annual business limit.

5. Brax Inc. paid taxable dividends of $12,000 in 2022. It is the policy of the corporation to designate dividends as eligible only to the extent that a dividend refund will be available.

6. In 2021, the combined AAII of Brax and Sax was $31,500. Their combined TCEC for 2021 was $1,400,000.

Required:

A. Determine the 2022 refundable Part I tax for Brax.

B. Determine Braxs 2022 Part IV tax liability.

C. Determine the balances in Braxs Eligible and Non-Eligible RDTOH on December 31, 2022.

D. Determine Braxs 2022 dividend refund, providing separate amounts for refunds on eligible dividends and refunds on non-eligible dividends.