Summer Inc. is a Canadian controlled private corporation For the year ending December 31, 2020, the company has taxable income of $262,000, all of which is active business income. Of this amount, $201,000 results from M&P activity. As it is associated with two other corporations, its share of the annual business limit is $117,000.

Determine the Company's federal Tax Payable for the year ending December 31, 2020

(Show calculations including SBD, M&P, and GRR)