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Question 11 (1 point) Net income for tax purposes for Pill Inc. (Pill) for 2022 has been correctly calculated as $542,000. Pill is associated with
Question 11 (1 point) Net income for tax purposes for Pill Inc. (Pill) for 2022 has been correctly calculated as $542,000. Pill is associated with another corporation and as a result, Pill has been allocated 80% of the business limit for the year. Pill received dividends of $150,000 from taxable Canadian corporations (included in net income above) in the year. Pill also earned rental income of $24,000 and realized a taxable capital gain of $10,000 in the year. Pill's adjusted aggregate investment income (AAII) in 2021 was less than $50,000. Which of the following is the small business deduction for Pill for the year? $54,416$68,020$72,580$74,480 Question 11 (1 point) Net income for tax purposes for Pill Inc. (Pill) for 2022 has been correctly calculated as $542,000. Pill is associated with another corporation and as a result, Pill has been allocated 80% of the business limit for the year. Pill received dividends of $150,000 from taxable Canadian corporations (included in net income above) in the year. Pill also earned rental income of $24,000 and realized a taxable capital gain of $10,000 in the year. Pill's adjusted aggregate investment income (AAII) in 2021 was less than $50,000. Which of the following is the small business deduction for Pill for the year? $54,416$68,020$72,580$74,480
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