Calculate exco ltd.''s federal income tax payable

Reference no: EM133412580

Question: Exco Ltd is a Canadian controlled private corporation with interest income of $ 120,000 and 100% of its active business income of $ 650,000 earned in Ontario for both 2021 and 2020. Exco Ltd. has no associated corporations.

Required: (show all calculations)

1. Calculate Exco Ltd.'s federal income tax payable for 2021 under Part I of the Income Tax Act.

Reference no: EM133412580

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