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During the current year, S Ltd. has net taxable capital gains of $50,000, receives dividends from taxable Canadian corporations of $40,000, and earns interest income

  1. During the current year, S Ltd. has net taxable capital gains of $50,000, receives dividends from taxable Canadian corporations of $40,000, and earns interest income of $20,000. Taxable Income for the year equals $260,000, of which $200,000 is eligible for the small business deduction. The Companys additional refundable tax for the year is equal to:

    $6,402

    $10,667

    $ 7,040

    $ 8,427

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