PROBLEM FIVE

Wrap Ltd$.$ is a Canadian$-$controlled private corporation. At the end of $2022,$ Wrap had the following tax account balances.

For the current year, $2023,$ net income for tax purposes is $$261,000.$ Included in this amount is the following.

The following is a summary of other information for Wrap Ltd$.$ for the $2023$ year.

Required:

Determine the dividend refund for $2023.$ Would the dividend refund change if Wrap Ltd$.$ was not a CCPC but instead was a

private corporation or a public corporation?