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Computer Ltd. generated the following data for its December 31, 2018 taxation year: Capital Gains $35,000 Interest Income $50,000 The balance in the tax accounts
Computer Ltd. generated the following data for its December 31, 2018 taxation year:
Capital Gains $35,000
Interest Income $50,000
The balance in the tax accounts on January 1, 2018:
Charitable Donation carryforwards$15,000
Net capital loss from 2011$4,000
Non-capital loss from 2016$10,000
What is the minimum taxable income to be reported on Computer Ltd. corporate tax return?
1)
$36,500
2)
$38,500
3)
$56,000
4)
$70,000
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