X Ltd. has net income for tax purposes of $110,000 and taxable income of $80,000. The net income includes $7,000 of taxable Canadian dividends, $9,000 taxable capital gains, and $6,000 interest income. The taxable income calculation includes deductions for a net capital loss of $5,000 and a non-capital loss of $10,000. The $500,000 business limit has been assigned to an associated corporation. Determine X's refundable tax on investment income