Daisy Cheng is a widow and employed by a publicly traded corporation and her 2023 salary is $90,000. In addition to the salary, Daisy also received the following payment from her employer:

Bonus $8,000 received on December 31, 2023

$5,000 to be received on January 15, 2024

Commission $20,000 received on December 15, 2023

The information related to Daisy's employment is as follows.

• The employment related withheld amount in 2023

EI premiums $ 1,002

CPP contribution 3,754

Federal Tax 13,800

RPP contribution 7,400

Charitable Donation 1,000

• Daisy has an employment contract with the employer that requires her to pay for her own sales related expenses and does not receive allowance from her employer.

In 2023, Daisy' incurred and paid the following expenses:

Advertising	$5,000
Client entertainment	10,000
Travel Costs	11,000

• Daisy was enrolled in a marketing course and an Excel course by her employer, who covered the total tuition cost of $3,000 due to her increased responsibilities.

• Daisy was granted options to buy 2,000 of the company's shares at $45 per share. The option price was the same as the fair market value at the time the options were granted in January 2021. On July 15, 2023, Daisy exercised these options to purchase 1,500 shares. At this time, the fair market value of the shares was $48 per share. Daisy sold the shares immediately.

Other economic activities related to Daisy:

• Daisy owned two residential rental properties. Both properties are in separate Class 1.

At the beginning of the year Property A has a UCC of 385,000 and Property B has a UCC of 400,000. In 2022 Daisy added major capital improvements to Property B for a cost of $25,000 and sold Property A during the year for $410,000 (the original cost of the building was $400,000).

Property B earned net rental income (before consideration CCA) of $4,000 and property A had a net rental loss of $8,000.

• Daisy received $1,200 in dividends from her investment in shares of a Canadian public corporation.

Other information related to Daisy

• Daisy's mother, who is 70 and physically infirm, lives with her. Her mother has a net income of $8,000.
• Daisy received a $50,000 life insurance payment from her husband's insurance company and a $25,000 death benefit from her husband's employer in 2023 following his passing on November 20, 2022.
• Daisy has a 4-year-old son. Daisy placed him in a daycare close to her work so that she could pick him up after finishing work. She paid a total of $5,500 for childcare in 2023 (Assuming Daisy's earned income is $112,500).

Required:

Calculate Daisy Cheng's 2023 minimum Net Income, Taxable Income, and determine her federal income tax payable or refund.