Low Tech Inc. is a Canadian-controlled private corporation (CCPC) with 2020 SR&ED expenditures of $885,000. In 2019, the Company's Taxable Capital Employed In Canada was $7 million, Determine their total investment tax credit for 2020 and indicate the amount that would be refundable. O A. The total credit would be $102,750. The refundable amount would be $102,750. OB. The total oredit would be $239,750. The refundable amount would be $239,750. OC. The total credit would be S239,750. The refundable amount would be $102,750. OD. The total credit would be $102,750. The refundable amount would be $102,750.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Low Tech Inc. is a Canadian-controlled private corporation (CCPC) with 2020 SR&ED expenditures of $885.000. In 2019, the Company's Taxable
Capital Employed In Canada was $7 million. Determine their total investment tax credit for 2020 and indicate the amount that would be refundable.
OA. The total credit would be $102,750. The refundable amount would be $102,750.
OB. The total credit would be S239,750. The refundable amount would be $239,750.
OC. The total credit would be S239,750. The refundable amount would be $102,750.
OD. The totali credit would be $102.750. The refundable amount would be $102.750.
Transcribed Image Text:Low Tech Inc. is a Canadian-controlled private corporation (CCPC) with 2020 SR&ED expenditures of $885.000. In 2019, the Company's Taxable Capital Employed In Canada was $7 million. Determine their total investment tax credit for 2020 and indicate the amount that would be refundable. OA. The total credit would be $102,750. The refundable amount would be $102,750. OB. The total credit would be S239,750. The refundable amount would be $239,750. OC. The total credit would be S239,750. The refundable amount would be $102,750. OD. The totali credit would be $102.750. The refundable amount would be $102.750.
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