During the Current Year, Norton Tools Ltd

question 59

Multiple Choice

During the current year, Norton Tools Ltd.has net taxable capital gains of $45,000, re- ceives dividends from taxable Canadian corporations of $34,000, and earns interest income of $21,000.Taxable Income for the year equals $280,000, of which $210,000 is eligible for the small business deduction.The Company's additional refundable tax for the year is equal to:

• A)$4,667.
• B)$6,667.
• C)$4,400.
• D)$5,267.

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Definitions:

Radiology

The medical specialty that uses imaging techniques, such as X-rays and MRI, to diagnose and treat diseases and injuries.

Magnetic Fields

Invisible fields that exert force on objects that possess magnetic properties or are moving electric charges.

Pelvic or Fetal Ultrasound

An imaging test that employs sound waves to capture visuals of a developing fetus inside the uterus or organs within the pelvic area.

Pelvic or Fetal Ultrasound

A diagnostic imaging test that uses sound waves to create images of the pelvic organs or a fetus in the womb.