The following information relates to the investment income received by Mr. Speculator during 2017.All amounts are in Canadian currency, unless otherwise stated.

(1) Eligible dividends received from taxable Canadian corporations:

(a) Bell Canada$1,500 (actual amount)

(b) Sears Canada Inc.$1,200 (actual amount)

(c) Bombardier Inc.$2,500 (actual amount)

(2) During 2016, Mr. Speculator transferred his shares in Stelco Canada Inc. to Mrs. Speculator, as a birthday present.During 2017, she received eligible dividends from these shares in the amount of $2,000.

(3) During 2017, Mr. Speculator purchased two Canada Savings bonds, which he transferred to his children, on their respective birthdays.His son, Robert, celebrated his 18th birthday in 2017 and his daughter, Roberta, celebrated her 16th birthday in 2017.Each child received $500 in bond interest during 2017.

(4) On July 1, 2016, Mr. Speculator purchased a 5-year G.I.C. Interest earned on the G.I.C. from July 1, 2016 to June 30, 2017 was $375.

(5) During 2017, Mr. Speculator received dividends from Pfizer Inc., a U.S. corporation. The actual amount of dividends received, after the withholding taxes were deducted at a rate of 15%, was $425.This amount was paid to him in U.S. currency.Assume that the average U.S. exchange rate for 2017 was $1.00 U.S. = $1.0299 Canadian.

(6) Mr. Speculator owns shares in T.D.L. Holdings Limited, a Canadian-controlled Private corporation.During 2017, this company paid dividends out of its Capital Dividend Account.Mr. Speculator received $6,000 from this transaction.(7) During 2017, Mr. Speculator purchased a 90-Day Treasury Bill at a cost of $9,452. The redemption value was $10,000 and the Treasury Bill matured in 2017.

(8) Mr. Speculator paid the following amounts in 2017:

(a) Rental of safety deposit box$35.00

(b) Interest on funds borrowed to purchase investments3,500.00

(c) Interest on house mortgage4,600.00

Required:

(a) Calculate Mr. Speculator's NET INVESTMENT INCOME for 2017.

(b) Calculate the Federal Dividend Tax Credit that Mr. Speculator will be entitled to claim on his 2017 personal income tax return.