Part A - Calculating Taxable income, Income Tax Payable and Effective Tax Rate (15 Marks) (The following information is for solving Questions 1 to 13 below) Dividend Tax Treatment Dividend Gross Up Rate Federal Dividend Tax Credit Provincial Dividend Tax Credit 20% 14% 8% Tax Brackets for Salary and Interest Income O to $15,000 $15,001 to $30,000 $30,001 to $70,000 $70,001 to $110,000 $110,001 to 200,000 $200,000 plus Charity Tax Credit First $200 donation Above $200 donation 0% 20% 30% 35% 40% 55% Capital Gains Exclusion Rate 50% 12% 20% It is the month of February, and Taylor is working on their income taxes. Taylor recorded the following information from the past year. O O . Salary Income $112,000 Interest Income from Bond Mutual Fund $2,000 Capital Gains $3,000 Dividend Income $1,200 RRSP Contribution $4,000 Charity Contributions to Algonquin College Alumni Fund $500 O . . Question 11 (1 point) Since Taylor made a RRSP contribution of $4,000, how much in income taxes would they be saving based on this RRSP contribution? $1,238.50 $2,296.76 $1,400.00 $1,691.04 O $1,500.00 Question 13 (2 points) Assuming Taylor had decided to make the $4,000 RRSP contribution and makes the $500 charity contribution, how make would be their total tax bill from all sources of income $29,075.20 $30,143.55 $28,201.46 $27,654.21 $27,899.20