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Why Limited is a Canadian public corporation. For the current year, Why Limited has correctly computed net income for tax purposes of $1,000,000, based on

Why Limited is a Canadian public corporation. For the current year, Why Limited has correctly computed net income for tax purposes of $1,000,000, based on the following sources of income.

Business income

$946,000

Taxable capital gains

16,000

Dividends from Canadian corporations

24,000

Rental income

14,000

Why Limited has net capital losses carried over from prior taxation years of $30,000. What is Why Limiteds minimum taxable income for the current year, assuming it claims all possible deductions in computing taxable income?

A.

946,000

B.

970,000

C.

960,000

D.

984,000

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