Item Amount Dividends from public Canadian corporations (subject to high corporate tax rates): $23,000 Dividends from private Canadian corporations (subject to low corporate tax rates): 33,750 Interest income received from Canadian sources: 18,400 Dividends from foreign corporations (translated into Canadian dollars); 12,900 Note: Total foreign dividends earned was $14,350 less foreign tax withheld of $1,450. Jessica's portfolio of investments includes a five-year investment contract purchased three years ago on September 1. The investment contract has a maturity value of $160,000 and an annual interest rate of 3%. The total interest earned on the investment contract will be paid on maturity on September 1, 2022, two years from now. Jessica did not receive any interest (cash) from this investment contract in 2020. Jessica's portfolio of investments is managed by a large Canadian brokerage firm called Premier Investments Inc. ("Premier") Premier charges Jessica investment counsel fees of $5,400 during 2020. In 2019, the previous year, Jessica received a large family inheritance, which she invested into a rental property. The property was purchased in 2019, and Jessica has claimed the maximum amount of capital cost allowance (CCA) on the property in 2019. In 2020, the opening UCC balance in CCA Class 1 for the rental building is $330,000 and Jessica would like to claim the maximum CCA deduction on the rental income in 2020. The rental income and expense information for 2020 is as follows. Item Amount Rental income: $2,600 per month Property tax: 5,200 for the year Property insurance: 190 per month Property management fees: 210 per month Utilities: 640 per month Repair of a leaky faucet and water damage: 1,250 To assist with filing her tax return, Jessica provides you with detailed records from her bank. The documents indicate that Jessica has borrowed the following amounts from her bank. . $210,000 mortgage on the rental property with principal repayments totalling $14,500 and interest payments of $7,000 for 2020 . $365,000 mortgage on Dr. Roberts's personal home with principal repayments totalling $17,500 and interest payments of $8,800 for 2020 . $140,000 loan used to purchase mutual funds with Premier Investments Inc. Jessica paid interest of $5,150 on this loan during 2020. * $48,500 loan used to purchase Jessica's personal use vehicle. Jessica paid $2.320 of interest on this loan during 2020