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d ces G Ltd., a Canadian private corporation, owns 20% of the voting shares of X Ltd., a Canadian private corporation. In the current
d ces G Ltd., a Canadian private corporation, owns 20% of the voting shares of X Ltd., a Canadian private corporation. In the current year X paid a non-eligible dividend of $70,000 and received a dividend refund from its NERDTOH account of $24,000. In addition, G received eligible dividends of $10,000 from various Canadian public corporations. Determine G's refundable Part IV tax. $
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