Irene has provided you with tax information and supporting backup on her investments for 2022. Irene is in the 33 percent federal tax bracket for 2022 (ignore provincial taxes). Assume that the federal and provincial dividend tax credits are equal to the total dividend gross up.

REQUIRED:

She would like you to calculate the total amount to include in her:

taxable income, her total tax (given her tax bracket), as well as the

after-tax cash she made on the investment from EACH investment

In addition, Irene would like to know if there will be any future tax impact

Organize a table to show your calculations for each investment.

	Public Shares	CCPC Shares	Interest
Taxable income
Taxes
After-tax

*show all of your calculations in between

Exhibit III

Public Company Shares: a total of 9,000 shares of 123 Inc. were purchased in 2022 at a cost of $24 per share. The shares paid an eligible dividend of $9.50 per share in 2022. The shares were sold on December 31, 2022, for $44 per share.

CCPC Shares a total of a total of 7,500 shares of 456 Corp. were purchased in 2022 at a cost of $16 per share. 456 is a Canadian controlled private company. The shares paid a non-eligible dividend of $6.90 per share in 2022. The shares have NOT been sold as of December 31, 2022.

Interest - a $50,000 face value bond was purchased at par on August 1, 2019. The bond bears interest at a rate of 3% compounded annually on uncashed coupons each July 31. Irene did not cash in any coupons in 2020 or 2021. If coupons are not cashed, they are added to the principal amount of the investment. The interest will be paid on maturity of the investment July 31, 2022.