1. P Ltd. is a Canadian controlled private corporation that operates a chain of fast-food restaurants. In its most recent fiscal year, the Company had the following financial results: Active business income eligible for the small business deduction = $150,000, Taxable capital gains =Nil, Foreign investment income =55,000, Investment income earned in Canada=45,000, Net Income for Tax Purposes =$250,000, Taxable Income =$210,000, The Company paid no foreign taxes on its foreign investment income. P Ltd. is not associated with any other corporations. Which one of the following amounts represents the refundable portion of Part I tax?

   		$24,800.
   		$36,700
   		$18,402
   		$46,667.