NITA inc. is a Canadian-controlled private corporation located in Tax City and incorporated under the federal law. NITA inc. has computed the following income (loss) for the year ended December 31, 20X1: - Income from business (active business income) $750,000 - Income from property (interest on long-term term deposit) $60,000 - Income from property (dividend income from Canadian corporations, not connected or related corporations) $20,000 - Loss from property (rental loss, could be considered an investment) ($10,000) - Capital gains $100,000 - Capital losses (including business investment loss of $10,000) ($40,000) At the end of 20X0, NITA inc.had the following tax account balances: - Non-capital loss carryforward $40,000 - Net capital loss carryforward $15,000 - Charitable gifts carryforward $25,000 - Refundable dividend tax on hand (RDTOH) $0 All income is earned in Canada. The corporations inventory had a cost of $500,000 and a fair market value of $800,000. Required: Calculate the federal income tax payable under Part I of the Income Tax Act. As part of your solution, provide a complete analysis of all of the preceding items, indicating the adjustment necessary or the reason no adjustment is necessary for each item.