In 2020, Melinda is a resident of Quebec and earns a gross salary of $100,000 from Bombardier. In her investment portfolio she sold 1,000 of her Spotify shares for $15,000 (she had originally purchased 2,000 shares a few years back for $8,000). She also received taxable dividends of $15,000 (eligible dividends). On October 1, 2020, Melinda made a Registered Retirement Savings Plan (RRSP) contribution of $10,500 which she will claim on her 2020 tax return. On the same day, she also made a contribution to her Tax-Free Savings Account (TFSA) for $2,000. Which statement is false? a) Melinda's dividends have been grossed-up and are eligible for a dividend tax credit on the $15,000 b) Melinda has capital gain of $7,000 c) Melinda has a taxable capital gain of $5,500 d) Melinda's total income is $120,500 e) Melinda's taxable income is $110,000 2019 Tax Rates 45.71% TABLE A 2019 Combined Federal and Quebec Personal Income Tax Brackets and Tax Rates 2019 Tax 2019 Taxable income 2019 Taxable income Rates first $43,790 27.53% over $95,259 up to $106,555 over $43,790 up to over $106,555 up to 32.53% $47,630 $147,667 over $47,630 up to over $147,667 up to 37.12% $87,575 $210,371 over $87,575 up to 41.12% $95,259 over $210,371 47.46% 49.97% 53.31% TABLE B 2019 Federal Basic Personal Amount and Quebec Basic Personal Amount 2019 Federal Basic Personal Amount 2019 Quebec Basic Personal Amount $12,069 $15,269 Tax rate 15% Tax rate 15%