Mr. Martin Pabst owns investments in various corporations. During 2020, he received eligible dividends of $10,200 from ABC corporation and a non-eligible dividend of $12,500 from XYZ corporation. He also has an investment in 5000 common shares issued by Melific Ltd. During the current year, the company declares a 6 percent stock dividend which it designates as eligible. At this time the shares are trading at $20 per share. What is taxable income?