Since its incorporation, Lookout Ltd. has been a CCPC. Lookout's taxable income was $756,400 for its taxation year ending December 31, 2021, and $812,500 for its taxation year ending December 31, 2022.

Its Taxable Capital Employed in Canada (TCEC) was $11,510,000 for 2021 and $12,180,000 in 2022.

Required Determine Lookout's SRED expenditure limit for the 2022 taxation year.

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To determine Lookout Ltds SRED Scientific Research and Experimental Development expenditure limit fo... View the full answer