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During the current taxation year, KT Ltd . , a Canadian - controlled private corporation located in Nova Scotia earned ( $ 1
During the current taxation year, KT Ltd a Canadiancontrolled private corporation located in Nova Scotia earned $ of active business income. In addition, the company made the following capital transactions: At the end of the previous taxation year, the following unused losses were available for carryforward: Required: For the current taxation year of KT Ltd calculate net income for tax purposes; taxable income; and total federal income tax.
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