Ralph has total income of $53,000. He has business expenses of $18,000, made a $5500 RRSP contribution and incurred $4000 in tuition expenses for his daughter, who did not work and is a freshman at a local community college. Personal basic exemptions of $11,138 and a marginal tax rate of 26 percent apply. Compute Ralph's taxable income for the current year. a. $18,362 b. $14,362 Oc $25,500 O d. $29,500