The following information relates to Perry Somers financial affairs in 2020:

1. Perry is employed as a salesperson and is remunerated by commissions. He must pay all of his own expenses. During the year, he earned commissions of $28,000. His expenses were as follows:

Automobile (operating costs)	$3,000
Entertainment (meals)	1,000
Convention (related to his employment)	500
Donations	500
Telephone long-distance charges (Personal use 80%)	1,000

The personal-use portion of his automobile expense is 20%.The UCC of his automobile at the end of the previous year was $5,000.

2. He made the following capital transactions:

	Gain (loss)
Shares of public corporation A	$10,000
Shares of public corporation B	(18,000)
Shares of Canadian-controlled private corporation C	(6,000)
(a small business corporation)

3. In 2019, Perry acquired the following two residential rental properties.

	Property X	Property Y
Land	$10,000	$15,000
Building	70,000	60,000

Maximum capital cost allowance was claimed in 2019. In 2020, the city expropriated property Y for $77,000 (land $17,000, building $60,000). Perry was pleased because property Y was vacant for part of the year after a tenant vacated unexpectedly. In 2020, net rental income from both properties (after all expenses but before capital cost allowance) was $1,000.

4. Perrys other income and expenses are as follows:

Income:
Taxable dividendsCanadian public corporations	$2,000
Interest on foreign bonds (net of 15% withholding tax)	1,700
Expenses:
Interest on a loan used to acquire the foreign bonds	1,300
Investment counsel fee	800

5. During the year, Perry made a contribution of 1,000 to a registered pension plan, which was matched by his employer. In addition, he contributed $2,000 to his RRSP.

Required:

Calculate Perrys minimum 2020 net income in accordance with the aggregating formula for determining net income for tax purposes.

A Employment Income: $ Net Employment Income Rental Income: $ 0 Net rental income Other Property Income: $ 0 Net Property Income B Capital Gains: $ 0 Net taxable capital gains C Other Deductions D Net income for Tax purposes $ 0 A Employment Income: $ Net Employment Income Rental Income: $ 0 Net rental income Other Property Income: $ 0 Net Property Income B Capital Gains: $ 0 Net taxable capital gains C Other Deductions D Net income for Tax purposes $ 0