The following information relates to Perry Somer's 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. Perry's other income and expenses are as follows: Income: Taxable dividends-Canadian 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. Requlred: Calculate Perry's minimum 2020 net income in accordance with the aggregating formula for determining net income for tax purposes. A Employment Income: S 0 Net Employment Income Rental Income: S 0 Net rental income Other Property Income: S 0 Net Property Income B Capital Gains: Net taxable capital gains $ 0 C Other Deductions D Net income for Tax purposes S 0