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Edward had total income of $160,000 in 2020 and earned income of $150,000 from 2019. At the end of 2019, he had unused RRSP contribution
Edward had total income of $160,000 in 2020 and earned income of $150,000 from
2019. At the end of 2019, he had unused RRSP contribution room of $12,000. His
pension adjustment from 2019 was $11,000. He anticipates a pension adjustment of
$14,000 in 2020. Edward's calculate maximum RRSP deduction that Edward can make
for the 2020 taxation year is ?
(Round all numbers)
Group of answer choices
$28,320
$25,000
$28,000
$25,320
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