Stefan Company has the following accounts:

Refundable Part 1 Tax 6,200

Eligible RDTOH - January 1, 2022 $ 46,000

Non-Eligible RDTOH - January 1, 2022 25,000

Taxable Dividends Paid During 2022 120,000

GRIP - January 1, 2022 12,000

Connected Corporation Dividend Refund $25,000

Stefan Company received 96K in portfolio dividends.

Stefan Company owns 60% of the Connected corporation. The Dividend refund came from non-eligible dividends from the payors Non-eligible RDTOH balance.

Assume the GRIP balance at the year end is 108,000.

Required:

Calculate the Part IV tax

Calculate the ERDOH Balance at the end of the year

Calculate the NERDOH Balance

Calculate the Part IV tax refund

Please show all your work with your calculations.