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What taxable capital employed in canada was

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Reference no: EM132953507

MRV, a Canadian-controlled private corporation, has requested your assistance with respect to the calculation of the company's Small Business Deduction for the taxation year 2020. MRV has provided you with the following information.

MRV has December 31 taxation year end, the corporation correctly reported:

Canadian Active business income $320,000
Canadian Investment income 17,000
Taxable Income 316,000
Net Capital loss 8,000

Problem 1: MRV is not associated with any other corporation. Taxable capital employed in Canada in 2019 was $11.9 million.

A. $58,900
B. $50,400
C. $60,400
D. $60,800

Reference no: EM132953507

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