Company B, a CCPC, incurred the following qualified SRED expenses this year:

Labour (before specified employees)	$200,000
Materials	$200,000
Accounting Overhead (choose PPA method instead of accounting overhead)	$100,000
Last Years Taxable Income	$20,000
Last Years Taxable Capital	$100,000
One Specified Employee SRED Project related Labour Cost	None, $0
Maximum CPP Insurable Earnings this year	$61,600

Required

Please calculate Companys B maximum, if applicable, SRED Refund for this year. (hint: add Overhead, using the Prescribed Proxy Amount Method (PPA))..