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I need the solution and the answer of this question. I am in a hurry, so quick response will be appreciated. Thank you! It is
I need the solution and the answer of this question. I am in a hurry, so quick response will be appreciated. Thank you!
It is the end of January 2021. Danny Jansen received a very large bonus in 2020 and wants to know how much he can contribute to his RRSP for 2020 in order to reduce his income. His 2019 Notice of Assessment indicated that his unused contribution room was $59,000 and a prior year Pension Adjustment of $15,000. His 2019 earned income was $80,000 and his 2020 earned income is $660,000. The maximums for 2019 and 2020 are $26.500 and $27.230 for 2019 and 2020 calculations. How much can Danny contribute in the first 2 months of 2021 to reduce his 2020 taxable income? Enter your answer in whole numbers, do not use dollar signs or commasStep by Step Solution
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