Saved Help Quinn's proprietorship earned $160,000 in pre-tax profits this year. Quinn does not require personal funds from the business. Personal tax rates (federal plus provincial) in Quinn's province are: On the first $49,000 20% On the next $48,000 30% On the next $54,000 40% On the next $63,000 45% On income over $214,000 50% (All rates are assumed for this question.) The combined federal and provincial rate of tax for Canadian-controlled private corporations in Quinn's province is 13% on the first $500,000 of income. Quinn has been considering Incorporating the business. Required: A. Calculate the after-tax profits for the business as i) a proprietorship, and ii) a corporation. Show all calculations. B. Name the type of tax planning that Quinn would be engaging in if the company was changed from a proprietorship to a corporation