Case 2 Kayla's Net Income for Tax Purpose is $210,557 Kayla is very successful salesperson for a large public co addition, she received commissions totalling $12,000 during the year. For 2018, she also received a bonus of $32,000 one half of which was paid in 2018, with the remainder due to Jan 31, 2019 During 2018, her employer withholds the following amounts from her salary: mpany. In 2018 her base salary is $250,000. In Canada Pension Plan Contribution El Premiums CPP Contributions $7,500 836 $2,564 Kayla is divorced and has custody of her 12-year-old son and 10-year-old daughter both live with her. Her daughter is legally blind, has no income of her own. Her son has summer job with employment income of $2,450. Kayla received options to acquire 2,500 shares of her employer's common stock 2 years ago. The option price was %50 per share, the market value of the common shares at the time options were granted was $45. During July,2018 after the market price of the shares reaches $52 per share, Kayla exercises all of these options. She sells the shares at the end of the year for $55/share. Kayla contributes $5,000 to the Save the Children Fund, a registered Canadian Charity. In order to improve her ability to deal with people, Kayla enrolled in a part time, human resources program at a local university. Her 2018 tuition totalled $1,890 and she was required to purchase school insurance with a cost of $320. Kayla had Non-Capital Loss carry forward from previous years of $50.000. In 2018: a) Kayla's NIFTP based on the above information is $210,557, please determine Kayla's minimum Taxable Income for the 2018 taxation year ((Hint: Division C Deductions-only two items you guys need to know) b) Determine Kayla's federal Tax Payable for the 2018 taxation year. Case 2 Kayla's Net Income for Tax Purpose is $210,557 Kayla is very successful salesperson for a large public co addition, she received commissions totalling $12,000 during the year. For 2018, she also received a bonus of $32,000 one half of which was paid in 2018, with the remainder due to Jan 31, 2019 During 2018, her employer withholds the following amounts from her salary: mpany. In 2018 her base salary is $250,000. In Canada Pension Plan Contribution El Premiums CPP Contributions $7,500 836 $2,564 Kayla is divorced and has custody of her 12-year-old son and 10-year-old daughter both live with her. Her daughter is legally blind, has no income of her own. Her son has summer job with employment income of $2,450. Kayla received options to acquire 2,500 shares of her employer's common stock 2 years ago. The option price was %50 per share, the market value of the common shares at the time options were granted was $45. During July,2018 after the market price of the shares reaches $52 per share, Kayla exercises all of these options. She sells the shares at the end of the year for $55/share. Kayla contributes $5,000 to the Save the Children Fund, a registered Canadian Charity. In order to improve her ability to deal with people, Kayla enrolled in a part time, human resources program at a local university. Her 2018 tuition totalled $1,890 and she was required to purchase school insurance with a cost of $320. Kayla had Non-Capital Loss carry forward from previous years of $50.000. In 2018: a) Kayla's NIFTP based on the above information is $210,557, please determine Kayla's minimum Taxable Income for the 2018 taxation year ((Hint: Division C Deductions-only two items you guys need to know) b) Determine Kayla's federal Tax Payable for the 2018 taxation year