X Ltd$.$ has net income for tax purposes of $$70,000$ and taxable income of $$50,000.$ The net income includes $$5,000$ of taxable Canadian dividends, $$8,000$ taxable capital gains, and $$4,000$ interest income. The taxable income calculation includes deductions for a net capital loss of $$7,000$ and a non$-$capital loss of $$8,000.$ The $$500,000$ business limit has been assigned to an associated corporation. Determine X$$s refundable tax on investment income.