Smart Ltd$.,$ a Canadian private corporation, owns $30\%$ of the voting shares of Arch Ltd$.$ In the current year, Arch Ltd$.$ paid an eligible dividend of $$120,000,$ which triggered a dividend refund of $$45,000$ to Arch Ltd$.$ Smart Ltd$.$ also received a non$-$eligible dividends of $$70,000$ from its wholly$-$owned subsidiary, Magna Ltd$.,$ and non$-$eligible dividends of $$50,000$ from two Canadian public corporations in which Smart Ltd$.$ owns less than $1\%$ of the issued shares. Magna Ltd$.$ carries on an active business and, thus, did not receive a dividend refund.

Determine the refundable Part IV tax payable by Smart Ltd$.$ for the current year.