EGR just completed its first year end. During the year, EGR recorded $12,000 in depreciation ($18,500 CCA). In addition there was a deduction in the accounting records for meals and entertainment amounting to $6,000. As a result taxable income will:

Question 9 options:

	Will be equal to accounting income
	Be lower than accounting income by $500
	Be higher than accounting income by $6,500
	Be lower than accounting income by $3,500