xab le Canadian corporation ). If federal and provincial combined ta nd provincial tax payable is?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Freddy receives $17,000 non-eligible dividend from a taxable Canadian corporation. His combined
tax rate 41% (29% federal and 12% provincial). If federal and provincial combined tax credit 84.5% of
the gross-up amount, Freddy's net federal and provincial tax payable is?
a. $5,713
b. $5,861
C. S8,085
d. $4,930
Transcribed Image Text:Freddy receives $17,000 non-eligible dividend from a taxable Canadian corporation. His combined tax rate 41% (29% federal and 12% provincial). If federal and provincial combined tax credit 84.5% of the gross-up amount, Freddy's net federal and provincial tax payable is? a. $5,713 b. $5,861 C. S8,085 d. $4,930
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