The following information for 2021 has been presented to you by Paula Promoter, the new vice-president of marketing for a public Canadian oil company, Overpriced Petroleum Limited. Paula, who is 52 years old and now lives in Calgary, travels extensively across Canada. Paula, whose duties involve the negotiating of contracts, began her employment with Overpriced Petroleum on January 1, 2021. Receipts and Fringe Benefits - 2021 Salary net of payroll deductions. Director fees.... Receipt of an amount, not to compete, from former employer Termination payment from former employer Travel allowance (Note (1) below): Accommodation and meals @ $200 per day for 150 days Car operating cost allowance @ 45 per kilometre plus $10 per day of travelling for business travel only (9,000 kilometres) for 150 days . . . . . Income protection receipts received from Regal Assurance (Note (2) below) Benefits paid by the corporation: Registered pension plan $ 50,450 5,000 50,000 8,000 30,000 5,550 15,000 $ 4,000 Extended health care - Liberty Mutual 2,125 Group income protection premiums -Regal Assurance (Note (2) below) 1,050 Membership fee in Petroleum Club (membership required by all employees) -initiation fee 1,000 -annual fee. . 2,500 Moving costs (Note (3) below). 42,000 Group term life insurance (coverage is $300,000) 600 Loans by company (Note (4) below) 160,000 $213,275 $377,275 Registered pension plan (defined benefit) Payroll deductions and selected disbursements - 2021 Payroll deductions: Income taxes withheld $ 41,001 4,000 2,749 860 1,050 $ 49,660 -current contribution Canada Pension Plan contributions Employment insurance contributions Group income protection premiums (Note (2)) Purchased 2,000 common shares on July 1, 2021 under a stock option plan at a price of $25 per share. Fair market value of shares at the date of purchase was $35. Fair market value of the shares was $25 per share on the date when the option was granted Legal fees paid in connection with the collection of the $50,000 non- competition receipt from her previous employer. . 50,000 5,000