Fill in the table below to compute the net property income. (Round amounts to the nearest cent. Enter deductions with parentheses or a minus sign.)

14 of 30 (13 complete) 76 Question 7.1.11 Question Help Additional info (part 1) Dr. Jaffa Lu has hired y from her occupation at large salary as a surged amounts during 2020, t was required to re of receiving a ve aid the following Amount i (Click on the icon to Item Dividends from public Canadian corporations (subject to high corporate tax rates): Dividends from private Canadian corporations (subject to low corporate tax rates): Interest income received from Canadian sources: Dividends from foreign corporations (translated into Canadian dollars): $24,000 32,500 18,200 A (Click on the icon to Required 12,900 Requirement 1. Comp Note: Total foreign dividends earned was $14,300 less foreign tax withheld of $1,400. Fill in the table below to nus sign.) Property Income Eligible dividends Ineligible dividends Jaffa's portfolio of investments includes a five-year investment contract purchased three years ago on September 1. The investment contract has a maturity value of $165,000 and an annual interest rate of 3%. The total interest earned on the investment contract will be paid on maturity on September 1, 2022, two years from now. Jaffa did not receive any interest (cash) from this investment contract in 2020. Jaffa's portfolio of investments is managed by a large Canadian brokerage firm called Top Shelf Investments Inc. ("Top Shelf") Top Shelf charges Jaffa investment counsel fees of $5,400 during 2020. 14 of 30 (13 complete) 76 Question 7.1.14 Question Help Additional info (part 2) Dr. Jaffa Lu has hired your profe from her occupation at a younge large salary as a surgeon and a amounts during 2020, the curre ht, Jaffa was required to re of years of receiving a ve which paid the following (Click on the icon to view P In 2019, the previous year, Jaffa received a large family inheritance, which she invested into a rental property. The property was purchased in 2019, and Jaffa has claimed the maximum amount of capital cost allowance (CCA) on the property in 2019. In 2020, the opening UCC balance in CCA Class 1 for the rental building is $355,000 and Jaffa would like to claim the maximum CCA deduction on the rental income in 2020. The rental income and expense information for 2020 is as follows. A (Click on the icon to view P Required Requirement 1. Compute Dr. L Fill in the table below to comput s or a minus sign.) Property Income Item Rental income: Property tax: Property insurance: Property management fees: Utilities: Repair of a leaky faucet and water damage: Amount $2,400 per month 4,700 for the year 190 per month 200 per month 640 per month 1,250 Eligible dividends Ineligible dividends 14 of 30 (13 complete) 7 correct Question 7.1.14 Question Help Dr. Jaffa Lu has hired your professional services to file her income tax return. Dr. Lu is a retired surgeon. Due to her failing eyesight, Jaffa was required to retire from her occupation at a younger age than normal. Fortunately, Jaffa has more than enough income to support herself as a result of years of receiving a very large salary as a surgeon and a family inheritance. Jaffa has invested most of her past employment earnings into a large portfolio which paid the following amounts during 2020, the current year. (Click on the icon to view Part 1 of the additional information.) (Click on the icon to view Part 2 of the additional information.) Required Requirement 1. Compute Dr. Lu's net property income for 2020. Fill in the table below to compute the net property income. (Round amounts to the nearest cent. Enter deductions with parentheses or a minus sign.) Property Income Eligible dividends Ineligible dividends 14 of 30 (13 complete) 7 correct Question 7.1.14 Question Help Dr. Jaffa Lu has hired your professional services to file her income tax return. Dr. Lu is a retired surgeon. Due to her failing eyesight, Jaffa was required to retire from her occupation at a younger age than normal. Fortunately, Jaffa has more than enough income to support herself as a result of years of receiving a very large salary as a surgeon and a family inheritance. Jaffa has invested most of her past employment earnings into a large portfolio which paid the following amounts during 2020, the current year. (Click on the icon to view Part 1 of the additional information.) (Click on the icon to view Part 2 of the additional information.) Required many vio UTVUCTUS Interest income Foreign dividends Net rental income Carrying Charges Net property income 14 of 30 (13 complete) 76 Question 7.1.11 Question Help Additional info (part 1) Dr. Jaffa Lu has hired y from her occupation at large salary as a surged amounts during 2020, t was required to re of receiving a ve aid the following Amount i (Click on the icon to Item Dividends from public Canadian corporations (subject to high corporate tax rates): Dividends from private Canadian corporations (subject to low corporate tax rates): Interest income received from Canadian sources: Dividends from foreign corporations (translated into Canadian dollars): $24,000 32,500 18,200 A (Click on the icon to Required 12,900 Requirement 1. Comp Note: Total foreign dividends earned was $14,300 less foreign tax withheld of $1,400. Fill in the table below to nus sign.) Property Income Eligible dividends Ineligible dividends Jaffa's portfolio of investments includes a five-year investment contract purchased three years ago on September 1. The investment contract has a maturity value of $165,000 and an annual interest rate of 3%. The total interest earned on the investment contract will be paid on maturity on September 1, 2022, two years from now. Jaffa did not receive any interest (cash) from this investment contract in 2020. Jaffa's portfolio of investments is managed by a large Canadian brokerage firm called Top Shelf Investments Inc. ("Top Shelf") Top Shelf charges Jaffa investment counsel fees of $5,400 during 2020. 14 of 30 (13 complete) 76 Question 7.1.14 Question Help Additional info (part 2) Dr. Jaffa Lu has hired your profe from her occupation at a younge large salary as a surgeon and a amounts during 2020, the curre ht, Jaffa was required to re of years of receiving a ve which paid the following (Click on the icon to view P In 2019, the previous year, Jaffa received a large family inheritance, which she invested into a rental property. The property was purchased in 2019, and Jaffa has claimed the maximum amount of capital cost allowance (CCA) on the property in 2019. In 2020, the opening UCC balance in CCA Class 1 for the rental building is $355,000 and Jaffa would like to claim the maximum CCA deduction on the rental income in 2020. The rental income and expense information for 2020 is as follows. A (Click on the icon to view P Required Requirement 1. Compute Dr. L Fill in the table below to comput s or a minus sign.) Property Income Item Rental income: Property tax: Property insurance: Property management fees: Utilities: Repair of a leaky faucet and water damage: Amount $2,400 per month 4,700 for the year 190 per month 200 per month 640 per month 1,250 Eligible dividends Ineligible dividends 14 of 30 (13 complete) 7 correct Question 7.1.14 Question Help Dr. Jaffa Lu has hired your professional services to file her income tax return. Dr. Lu is a retired surgeon. Due to her failing eyesight, Jaffa was required to retire from her occupation at a younger age than normal. Fortunately, Jaffa has more than enough income to support herself as a result of years of receiving a very large salary as a surgeon and a family inheritance. Jaffa has invested most of her past employment earnings into a large portfolio which paid the following amounts during 2020, the current year. (Click on the icon to view Part 1 of the additional information.) (Click on the icon to view Part 2 of the additional information.) Required Requirement 1. Compute Dr. Lu's net property income for 2020. Fill in the table below to compute the net property income. (Round amounts to the nearest cent. Enter deductions with parentheses or a minus sign.) Property Income Eligible dividends Ineligible dividends 14 of 30 (13 complete) 7 correct Question 7.1.14 Question Help Dr. Jaffa Lu has hired your professional services to file her income tax return. Dr. Lu is a retired surgeon. Due to her failing eyesight, Jaffa was required to retire from her occupation at a younger age than normal. Fortunately, Jaffa has more than enough income to support herself as a result of years of receiving a very large salary as a surgeon and a family inheritance. Jaffa has invested most of her past employment earnings into a large portfolio which paid the following amounts during 2020, the current year. (Click on the icon to view Part 1 of the additional information.) (Click on the icon to view Part 2 of the additional information.) Required many vio UTVUCTUS Interest income Foreign dividends Net rental income Carrying Charges Net property income