Depreciation $30,000 Meals and entertainment $2,000 Maximum possible capital cost allowance (CCA) claim $25,000 Warranty expense $10,000 Actual warranty claims paid $5,000 Golf dues $2,000 Applicable tax rate 20% What is the taxable income for the year ended December 31? Question 23 options: a) $111,000 b) $112,000 c) $113,000 d) $118,000