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Use the Canadian Revenue Agency forms (T1 and necessary schedules) to answer the question. You need to navigate your way to locate the forms: Calculate

Use the Canadian Revenue Agency forms (T1 and necessary schedules) to answer the question. You need to navigate your way to locate the forms: Calculate the Federal tax payable for the year 2017 for Mrs. Smith, given the following information: Employment income: $162,500 Actual dividends: $5,600 (these are eligible dividends) Employee CPP contribution: $ 920 EI premium: $730 Registered Pension Plan Contribution: $6,800 Union dues: $640 RRSP contribution: $7,850 Prize from winning the lottery: $50,600 Life Insurance benefit payment received: $125,000 Interest income: $14,000 Tuition fees: $6,260 (was in school full time from January to April and parttime from May to August) Charitable donations: $7,250 Federal income tax already deducted (withheld): $21,800 (Assume no more CPP contribution is required.)

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