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What is the minimum taxable income

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Question - Computer Ltd. generated the following data for its December 31, 2017 taxation year:

Capital Gains $35,000

Interest Income $50,000

The balance in the tax accounts on January 1, 2017

Charitable Donation carryforwards $15,000

Net Capital loss from 2010 $4,000

Non Capital loss from August 2015 $10,000

What is the minimum taxable income (rounded to the nearest dollar) to be reported on Candy's corporate tax return?

a. $70,000

b. $38,500

c. $36,500

d. $56,000

Reference no: EM132605254

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