Olin Packett is a CGA-CPA and is employed by a Canadian private corporation. For 2020, his gross salary was $75,000 and the following amounts were withheld from his gross salary: MULTIPLE CHOICE ANSWER DOWN BELOW, IF ITS NONE OF THE CHOICES SHOWN BELOW SHOW CALCULATION/EXPLAINATION

Federal Income Tax$25,000

Employment Insurance Premiums856

Canada Pension Plan Contributions2,732

Registered Pension Plan Contributions5,000

Charitable contributions (Centraide) 1,000

For 2020 Olin also had the following taxable benefits added to his T4:

Automobile Benefit$17,900

Housing Benefit $36,000

Finally, for 2020 Olin also paid for the following revenues and expenses which were not reimbursed by his employer:

Revenues:

Taxable Capital Gain on sale of shares $50,000

Expenses:

Tuition fees for a business management course( $2,500)

Professional dues paid to CPA association( $1,600)

Premiums paid on life insurance policy( $1,720)

Spousal support paid during the year ($24,000)

Which of the following answers corresponds to Olin's Net Employment Income for the year 2020?

$127,300

$118,900

$87,712

$167,300

$109,492

None of the choices shown.

$117,300

$75,000