In 2019, the shareholder of a Canadian public corporation received cash dividends of $4,000, and interest from bonds of $20,000. They sold shares for $40,000 that had an adjusted cost base (ACB) of $8,000. They had prior year net capital losses of $3,500 carry forward. What would be the amount of the individual's net income for tax purposes? In Canada

Multiple Choice

• $41,520

• $57,520

• $40,640

• $56,640