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What is the minimum taxable income

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Reference no: EM132432242

Question - Computer Ltd. generated the following data for its December 31, 2018 taxation year:

Capital Gains $35,000

Interest Income $50,000

The balance in the tax accounts on January 1, 2018:

Charitable Donation carry forwards $15,000

Net capital loss from 2011 $4,000

Non-capital loss from 2016 $10,000

What is the minimum taxable income to be reported on Computer Ltd. corporate tax return?

1) $36,500

2) $38,500

3) $56,000

4) $70,000

Reference no: EM132432242

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