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For the year ending December 3 1 , 2 0 2 0 , Mortell Inc, a CCPC , has taxable income, before consideration of dividends
For the year ending December Mortell Inc, a CCPC has taxable income, before consideration of dividends or salary paid to its sole shareholder, of $ The company's cash balance is over $ It is subject to a combined federalprovincial tax rate of Ms Mortell, the company's only shareholder, has employment income of $ and, under normal circumstances, does not make withdrawals from the corporation. However, she needs an additional $ in cash to create the backyard pool oasis of her dreams. Ms Mortell's combined federalprovincial tax rate on additional income is She lives in a province where the provincial dividend tax credit is equal to of the dividend gross up for non eligible dividends. Assuming she chooses to pay herself a dividend to finance the backyard pool oasis, what will be the tax cost of paying out this dividend?
Round your final answer to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response. Enter the response as a positive number.
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