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What is the minimum taxable income

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Reference no: EM132612729

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

Problem 1: What is the minimum taxable income (rounded to the nearest dollar) to be reported on Candy's corporate tax return?

Option a. $70,000

Option b. $38,500

Option c. $36,500

Option d. $56,000

Reference no: EM132612729

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