For the 2023 taxation year, CalvertonInc., a CCPC, has net income of $664,200. This is made up $628,400 of active business income earned in Canada and $35,800 of taxable dividends from various Canadian public companies. It has been determined that $429,300 of the active business income qualifies as M&P profits.

In 2023, the company makes charitable donations to registered charities totalling $41,100.

At the beginning of 2023, the company has a 2021non-capital loss balance of $56,800. It intends to claim all of this balance in the 2023 taxation year.

Calverton Inc. is associated with three CCPCs. The companies have agreed that each will claim one-quarter of the annual business limit. The combined TCEC of the four associated companies is less than $10 million in both the 2022 and 2023 taxation years. The combined AAII of the four companies was $31,000 in 2022 and $54,000 in 2023.

Required: Determine the minimum 2023 taxable income and federal income tax payable for Calverton Inc. Show all calculations regardless if they are necessary to the final solution. As the corporation operates in a province that has a reduced tax rate for M&P activity, a separate calculation of the federal M&P deduction is required.

Calculate the minimum 2023 taxable income for Calverton Inc.