X Ltd. has net income for tax purposes of $120,000 and taxable income of $90,000. The net income includes $8,000 of taxable Canadian dividends, $7,000 taxable capital gains, and $9,000 interest income. The taxable income calculation includes deductions for a net capital loss of $7,000 and a non-capital loss of $12,000. The $500,000 business limit has been assigned to an associated corporation. Determine X's refundable tax on investment income