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You are provided with the following amounts for Denise Tran for the current year: .Net employment income (ITA 5 to 8) = $65,000 Interest income
You are provided with the following amounts for Denise Tran for the current year: .Net employment income (ITA 5 to 8) = $65,000 Interest income (ITA 12) = $5,600 Taxable amount of dividends (ITA 12) = $2,680 Taxable capital gains (ITA 38 to 55) = $3,500 Allowable capital losses (ITA 38 to 55) = $4,500 Interest expense (bank loan for investment purposes) = $3,500 Investment counsel fees = $450 RRSP deduction allowed pursuant to ITA 60) = $10,500 Based on the above, the "net property income" reported by Denise Tran pursuant to ITA 3(a) for the current year is: Choose the correct answer O A. $8,280 O B. $4,330 O C. $7,280 OD. $63,460
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