During the year ended December $31,2019,$ Odette Ltd$.,$ a public corporation, has net income for tax purposes under Division B of $ $800,000,$ which amount includes $ $200,000$ of dividends from taxable Canadian corporations, $$100,000$ of dividends from U$.$S$.$ Corporations in which the company has a $5\%$ interest and $ $500,000$ of manufacturing and processing profit which is eligible for the M&P profit deduction for tax purposes. The company paid $$300,000$ of charitable donations during the $2019$ year. Income earned in a province or territory in Canada was $90\%.$ The company wants to maximize any claim for the small business deduction.

Required: $($show all calculations$)$

$1.$ Calculate Odette Ltd$.$s federal taxable income for $2019.2.$ Calculate federal Part I tax payable.