Eric Thompson is a CPA, working as the Vice President of Finance of Boyd Enterprises Inc., a public company headquartered in Vancouver, B.C. In 2020, Eric received a net cash salary of $77,839 from Boyd, after the following payroll deductions:

Income Taxes Withheld $38,000

Canada Pension Plan Contributions $2,964

Employment Insurance Deductions $1,772

Registered Pension Plan Contributions $6,000

Group Disability Plan Contributions $175

Charitable Donations $2,250

Eric’s wife started her MBA during the year and went to school on a part-time basis for 8-months, paying tuition of $14,750. As such, for 2020, she only earned $498 of interest income on her savings.

Required: Based on above, calculate Eric’s net federal taxes payable or refundable for 2020, commenting on his average and marginal tax rates. Be sure to explain why any amounts might be irrelevant.