KLM Ltd is a Canadian$-$controlled private corporation which operates a chain of bakeries. For its most recent fiscal year$-$end, the company had the following information available:

Active business income earned in Canada$$$$220,000$

Active business income earned outside Canada$40,000$

Taxable capital gains$$nil

Investment income earned in Canada$100,000$

Net income for tax purposes$$$$360,000$

Taxable income$$$$200,000$

$$

KLM $\text{'}$s taxable capital was less than $$10$ million in the prior year and investment income earned in Canada is identical to prior year results. KLM Ltd has no associated corporations and paid no foreign taxes on its foreign operations. Which one of the following amounts represents the maximum amount of income on which KLM Ltd$$may claim the small business deduction?