Question 13 (1 point) Which of the following accurately describes one of the rules pertaining to testamentary and inter vivos trusts? They may use the graduated tax rate scale. O They are allowed the $40,000 exemption in the alternative minimum tax calculation. They can deduct personal tax credits. They are required to remit quarterly tax instalments. Question 14 (1 point) Turquoise Co. and Yellow Co. are equal partners in LMN Co. LMN Co. had a net income for tax purposes this year of $350,000 which did not include the available capital cost allowance of $50,000. Prior to the partnership income, each corporate partner had a loss of $150,000, and each has a $25,000 non-capital loss which will expire in two years. To maximize the use of the losses, the partnership net income for tax purposes is $50,000 $175,000 $300,000 $350,000