The controller of G Ltd. (a Canadian-controlled private corporation) provided you with the following selected information related to the 2022 taxation year ending December 31, 2022.

Canadian retail business income $492,500

Taxable capital gains(non-active) 4,500

Interest income on Canadian long-term bonds 40,000

Interest income on overdue accounts receivable 5,000

Dividend income: a) From taxable Canadian corporations(eligible dividend) (G owns less than 5% of the shares of these corporations) 21,000

b) From ABC company (Non-eligible dividend) (G owns 80% share of 40,000

ABC company and ABC claimed a dividend refund of $15,000 after the payment of this dividend, ABC company claimed small business deduction on business income of $200,000)

Net Income for Income Tax Purposes (Division B Income) $603,000

Miscellaneous Items

Non-capital losses from prior years 37,500

Net capital losses from prior years 6,500

Refundable dividend tax on hand as of December 31, 2021 (non-eligible) $5,000

Taxable dividends paid during 2022 (non-eligible) 120,000

Capital Dividend Account as of December 31, 2021 20,000

Required:

A. Compute the federal Part I tax payable on federal taxable income by the corporation for 2022. Show in detail the calculation of all tax deductions in the computation, using a separate schedule for each special tax deduction.

B. The amount of the dividend refund for 2022 using the RDTOH account. Use all the tax-free amounts if available.