Mr. Waseem incorporated Luck Unlimited Limited in 2020 taking one share with a paid-up capital value of $1 and a note representing a loan to the company of $499,999. The company operates in a province with a 13% corporate tax rate on active business income eligible for the small business deduction, a 27% total corporate tax rate on other active business income, an initial 40% corporate tax rate on investment income before the 102/3% additional refundable tax. Mr. Waseem has a 50% combined personal tax rate (including a 17% personal provincial tax on income rate). The company purchased the assets of a business in the same year for $500,000. The purchase price was allocated to the land and building of the business in the amount of $400,000 and to goodwill in the amount of $100,000. However, before the business had commenced, the company sold the assets of the business for $700,000, including $170,000 for goodwill. Mr. Waseem has asked you to determine how much of the $700,000 received in the corporation he would retain if he removed all of this amount from the corporation. Assume that the sale of land and building was considered to result in a capital gain.