Cinder Inc. is a Canadian$-$controlled private corporation based in your province. The company operates a wholesale business. The following information is provided for its year ended May $31,2023$:

Net income for tax purposes is $$212,000.$ The following are included in this amount.

Interest income from bonds $ $10,000$

Interest income on overdue trade accounts receivable $1,000$

Taxable capital gain on sale of land $14,000$

Eligible dividends from Canadian public corporations $12,000$

Non$-$eligible dividends from PQ Ltd$.($see item $2$ below$)6,000$

PQ Ltd$.$ is a Canadian$-$controlled private corporation. Cinder owns $60\%$ of its common voting shares. In $2023,$ PQ claimed the small business deduction on $$320,000$ of its active business income. PQ paid a non$-$eligible dividend of $$10,000,$ of which Cinder$$s share is $$6,000(60\%).$ As a result of the dividend, PQ received a dividend refund of $$1,000$ from its non$-$eligible RDTOH.

Cinder made contributions of $$4,000$ to registered charities. This amount has been correctly adjusted for in computing net income for tax purposes.

The following information is from the $2022$ Tax return of Cinder.

Non$-$capital losses $ $5,000$

Non$-$eligible refundable dividend tax on hand $2,000$

Eligible refundable dividend tax on hand $0$

Dividend refund $0$

Taxable capital Under $$10$ million

Adjusted aggregate investment income $ $30,000$

On May $31,2023,$ Cinder paid taxable dividends of $$20,000($eligible $$10,000$ and non$-$eligible $$10,000)$ to its shareholders.

Required:

Determine Cinder$$s federal income tax for the $2023$ taxation year. $($Use $0\mathrm{.}3067$ when multiplying to represent $30(2)/(3)\%.$ and $0\mathrm{.}3833$ when multiplying to represent $381/3\%.$ Do not multiply by more than $4$ decimal places and round your final answer to the nearest dollar. Enter subtractions as negative amounts.$)$Actlive buelnace insome

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Imall bucinecs dadustion $-18\%$ lasect of

Rstundabis tax on Investment Inoome

$1023\%$ imes the lenat of:

General tax reducton $-135$ ot

FART I TAX

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$($a$)\frac{381}{3}\%$

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