Determine X Non-eligible RDTOH balance

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Question - X Ltd. paid Part I federal tax of $28,600 on taxable income of $220,000 that included deductions for a net capital loss $17,000 and a non-capital loss of $6,000. Net income for tax purposes includes $10,000 of interest income, $24,000 taxable capital gains, and $14,000 of eligible dividends received from sundry Canadian public companies. X claimed the small business deduction on active business income of $190,000. At the end of the previous year, X had a Non-eligible RDTOH balance of $34,000. X did not declare dividends in the previous or current year. Determine X's Non-eligible RDTOH balance at the end of the current year.

Reference no: EM132811482

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