Pepper Co. had a non-eligible RDTOH (NERDTOH) balance of $15,000 at the end of 2021 and the dividend refund from the NERDTOH in 2021 was $7,000. The company's Part IV tax on non-eligible dividends for 2022 is $8,000. The company's active business income is $475,000 and its taxable income is $410,000. Pepper is associated with Lion Co., which has only active business income. Lion Co. was allocated $125,000 of the small business deduction in 2022. Pepper has investment income which remained at $45,000 in both 2021 and 2022. The total taxable capital of the two corporations is less than $50 million. Part I tax for 2022 was $47,283. What is Pepper's NERDTOH balance at the end of 2022? (Round intermediate and final answers)

Multiple Choice

$8,000

$16,000

$26,733

$65,623