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QUESTION 5 The FG Company had Net Income For Tax Purposes for the year ending December 31, 2020 of $275,000. This amount included $13,720 in
QUESTION 5 The FG Company had Net Income For Tax Purposes for the year ending December 31, 2020 of $275,000. This amount included $13,720 in taxable capital gains, as well as $15,600 in dividends received from taxable Canadian corporations. Also during 2020, the Company made donations to registered charities of $9.100. At the beginning of the year, the Company had available a non-capital loss carry forward of $74,000, as well as a net capital loss carry forward of 520.000 (1/2)(540,000). Determine the Company's Taxable Income for the year ending December 31, 2020 Determine the amount of the net capital loss carryover available at the end of the year Round to the nearest dollar, use 1.000s commas and do NOT include .00s or a dollar sign. Enter all numbers as positive. (1/2 mark each)
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