For its taxation year ending December 31, 2022, Broadmoor Inc., a CCPC, has active business income (ABI) before consideration of dividends or salary paid to its sole shareholder of $550,000. The company has considerable cash resources sufficient to meet any additional salaries, dividends, and related income tax obligations. The company makes the maximum eligible dividend designation each year. Its only shareholder, Ms. Sarah Broad, has no income other than taxable dividends or salary paid by the corporation and she has combined federal/provincial/territorial personal tax credits that would reduce her income tax by $5,000.

In her province or territory of residence, assume:

• the corporate income tax rate is 3% on income eligible for the SBD and 14% on all other corporate income;
• her combined federal/provincial/territorial income tax totals $75,000 on the first $221,708 with additional amounts of income subject to 51%;
• the provincial/territorial dividend tax credit is 30% of the gross up for both eligible and non-eligible dividends; and
• there is no payroll tax.

Determine the amount of after-tax cash that Ms. Broad will retain if (1) the maximum

salary is paid by the corporation out of the available cash of $550,000 and (2) the maximum

amount of eligible and non-eligible dividends are paid. Ignore any CPP contributions and

the Canada employment tax credit.