Bronson Ltd. is a Canadian controlled private corporation (CCPC). In the previous taxation year, the company had a GRIP balance of $12,500 and designated $8,000 of dividends paid as eligible dividends. During the current year, Bronson Ltd. had taxable income of $275,000. Included in this amount are the following: Aggregate Investment Income of $45,000 Eligible Dividends Received of $35,000 During the current year, Bronson Ltd. had a small business deduction of $38,000 ($200,000 x 19%). The company designated $12,000 of dividends paid in the current year as eligible dividends. Which of the following is the correct GRIP balance at the end of the current year for Bronson Ltd.?