XYZ Limited, a CCPC owned solely by Mr. A, redeemed all of the special class B shares owned by Mr. A on March 1, 2019. The pertinent details are as follows:

Redemption proceeds - $ 20,000

Total PUC of shares - 18,000

Total ACB of shares - 100

The shares are not qualifying small business corporation shares.

Required:

Insert your answers to the following questions in the space provided below:

(you may insert your calculations for possible part marks)

1.The deemed dividend arising on the share redemption is $ _______________

2.The taxable capital gain arising on the share redemption is $ _______________

3. The allowable capital loss arising on the share redemption is $ _______________