Ms. Mist is employed as an internal auditor by Universal Imports Limited (UIL), a Canadian-controlled private corporation (CCPC). To drive to UILs locations, as required in her employment, UIL provides her with a car and withholds an amount for her salary to cover personal kilometers. During 2020, Ms. Mist used the car for 21,000 employment kilometers and 9,000 personal kilometers. When on an auditing assignment, she is out of town at least five days. Ms. Mist provides you with the following information related to 2021: Gross salary $ 140,000 Withheld from Ms. Mists salary Income tax $ 42,000 Registered Pension Plan 8,000 Canada Pension Plan 2,594 Employment Insurance 858 Group term life insurance 750 Payment for personal use of company car 2,000 57,702 Net salary $ 83,298 Travel allowance paid by employer 8,100 $ 175 per day for 60 days Actual travelling expenses for 2021 were: $ 2,400 for meals $ 4,400 for accommodation $ 3,865 for air and ground transportation Market value of company-owned automobile 2021 $27,000 Original cost of automobile in 2019 Operating costs paid by employer in 2021 35,000 9,575 Employer contributions Group term life insurance policy premium $ 450 Extended medical insurance premium 900 Registered Pension Plan 8,000 Premium paid by Ms. Mist for private dental insurance $ 500 Expenses paid by UIL for Mr. Mist to accompany Ms. Mist on an auditing trip to Banff. 3,000 Luggage set received as a birthday gift 300 Airport premium lounge passes received in recognition of five-year service, it was the first long term service award received by Ms. Mist 400 Bonus payable on December 31, 2021, that was paid to Ms. Mist in January 2022 5,000 Fees paid by Ms. Mist to the Institute of Internal Auditors, a professional body recognized by legal statute 450 Fees paid by UIL for a Wantlen University Spanish course. 950 Fees paid by Ms. Mist to Super Fit Athletic Club 900 Donation made to Search and Rescue, a registered charity 500 Interest received on total return bond portfolio 200 Dividends received on UIL stock 750 Proceeds received from sale of 1,000 shares of UIL stock acquired under the employee stock option plan The options were granted in 2015 with an exercise price of $10 when the market value of the shares was $12 per share. Ms. Mist exercised the options in 2019 when the fair market value was $13 per share. 15,000 Gain on sale of shares held in her non-registered portfolio 5,000 Carryover of a net capital loss on shares sold in 2014 (3,500) Ms. Mist received a $100,000 low interest home purchase loan in 2020. The balance is due in 2022. Interest paid in 2021 was $100. 100 Required: Determine the federal tax payable for Ms. Mist in 2021. Clearly identify sources of income, net income for tax purposes, taxable income and federal tax in your calculation. Present all aspects of the required calculations. (hint: setup your response as per the Section 3 Aggregation Formula) Explain any tests applied in the determination of the appropriate tax treatment. Explain any amounts excluded from your calculation of tax payable. Draft two questions for the client that relate to taxable benefits and two that relate to non-taxable benefits that are not mentioned in the fact pattern.