Calculate total tax payable

Reference no: EM133650426

Question

Mockwood Inc. is a public corporation. Taxable income for the year end December 31, 2022 is $200,000. All of the income is from Canadian sources. Calculate total tax payable (Federal and Ontario taxes). Ontario tax rate is 11.5% for public corporations for 2022. Federal general tax reduction rate is 13%. Select one: $53,000 $36,000 $66,000 $26,000.

Reference no: EM133650426

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