Mrs. Martin is considering investing $200,000 in interest bearing securities for the year ending December 31, 2019 at a rate of 7 percent per annum. The pre-tax interest income on this investment would be $14,000 and Mrs. Martin will have no other investment income in the year. The combined federal and provincial corporate tax rate on investment income is 52 percent, including the ITA 123.3 refundable tax on the investment income of a Canadian controlled private corporation. Mrs. Martin is subject to a federal marginal tax rate of 29 percent and a provincial marginal tax rate of 17 percent. The provincial dividend tax credit is equal to 25 percent of the dividend gross up for non-eligible dividends. Required: Prepare calculations that will compare the after tax retention of income that will accrue to Mrs. Martin for 2019 if: A. The investment in the interest bearing securities is owned by her as an individual. B. The investment is owned by a corporation in which she is the sole shareholder, and which pays out all available income in dividends. Maximum dividend refund is $4,177.