Problem $7$ Up$,$ Up and Away Limited is a public corporation that distributes hot air balloons in the Province of New Brunswick. For the year ended September $30,2023,$ its accounting income statement was as follows: ITA: $123,124,125\mathrm{.}1,126,127(5)$ Sales Cost of sales and other expenses including CCA Operating profit Other income Net income before taxes Provision for taxes Net income $$1,225,000(745,000)$ S $480,000->173,500\backslash$$ $653,500(200,725)=$$$452,775$ Selected Additional Information $(1)$ Other income includes: Dividends from taxable Canadian corporation $$60,000$ Canadian interest income $52,500$ Foreign interest income, net of withholding taxes of $$10,00061,000(2)$ Up$,$ Up and Away Limited has a non$-$capital loss carryforward of $$255,545.(3)$ Donations to registered charities were $$9,755($deducted from accounting income$).$ You have been asked to calculate the total taxes payable for $2023$ using an $11\%$ provincial rate of tax.