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What is the correct amount of Additional Refundable Tax

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Problem - Assume lnitech Corp is a CCPC with taxable income of $945,000 in 2020. Included in this amount is Aggregate investment income of $138,000. In addition, lnitech is not associated with any other companies and is eligible for a small business deduction of $90,250 ($475,000 x 19%). What is the correct amount of Additional Refundable Tax on Investment Income imposed on Initech Corp in 2020?

Reference no: EM132896824

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