Part A - Calculating Taxable income, Income Tax Payable and Effective Tax Rate (12 Marks) (The following information is for solving Questions 1 to 12 below) Last year, Elizabeth received the following in different forms of income: . Salary was $90,000 Interest payments from her bond mutual funds was $3,000 Www Dividend payments from her equity mutual funds was $4,500 Capital gains from selling some of her shares in Bell Canada Enterprises Ltd was $2,500 The combined federal and provincial tax rates in the province she lives in is 31 percent. For dividends, the Gross up amount is 24 percent, federal dividend tax credit is 14 percent, and the provincial dividend tax credit is 4.5 percent. Question 1 (1 point) Saved What is Elizabeth's total taxable income? (1 mark) O $100,000 O $90,000 $93,000 $97,500 O None of the Above Question 2 (1 point) What is the amount of taxes she would pay on her salary? (1 mark) $31,000 $28,830 $30,225 $27,900 None of the Above