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Madison recently received an offer for the shares of her corporation, Forefront Consultants Ltd. Madisons shares have an adjusted cost base of $650,000. Forefront is

Madison recently received an offer for the shares of her corporation, Forefront Consultants Ltd. Madisons shares have an adjusted cost base of $650,000. Forefront is not a qualified small business corporation for purposes of the lifetime capital gains deduction. Although Madison would like to sell her shares and retire, she will only sell her shares if her after tax retention from the sale totals at least $2 million. Required: Assuming that Madisons combined personal federal and provincial marginal tax rate is 50%, what is the minimum price Madison should accept for her shares to retain $2,000,000 net after tax?

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