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. 1. Net income for tax purposes is $215,000. The following are included in this amount. 2. 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 $352,000 of its active business income. PQ paid a non-eligible dividend of $12,000, of which Cinder's share is $8,000(60%). As a result of the dividend, PQ received a dividend refund of $3,000 from its non-eligible RDTOH. 3. Cinder made contributions of $6,000 to registered charities. This amount has been correctly adjusted for in computing net income for tax purposes. 4. The following information is from the 2022 Tax return of Cinder. 5. On May 31,2023 . Cinder paid taxable dividends of $24,000 (eligible $12,000 and non-eligible $12,000 ) to its sharehoiders. Required: Determine Cinder's federal income tax for the 2023 taxation year. (Use 0.3067 when multiplying to represent 30%. and 0.3833 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.) A1 Aggregate investment income Part I tax Small business deduction 19% least of (i) (ii) (iii) Refundable tax on investment income 102/3% times the least of: General tax reduction - 13% of Less: Less: PART I TAX Part IV Tax %x \begin{tabular}{|c|c|c|} \hline \multirow{2}{*}{\multicolumn{3}{|c|}{p}} \\ \hline & & \\ \hline \end{tabular} Non-eligible RDTOH Less: Add: Add: (i) (ii) Non-eligible RDTOH Less: Add: Add: (iii) Eligible RDTOH Add: Dividend Refund (i) Lessor of: (a) 381/3% (b) Plus (ii) Lessor of: (a) (b) Federal income tax payable