Reconsider the data in problem 10. What are the total personal and corporate taxes if you pay yourself a salary of $50,000 and a dividend of $20,000?

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Small Business Rate (%), Income Up to $425,000 General Rate (%) Federal 15.00 11 Fed. + Prov. Prov. Fed. + Prov. Prov. British Columbia 26.0 0.ןו 2.5 13.5 Alberta 10.0 25.0 3.0 14.0 Saskatchewan 12.0 27.0 2.0 13.0 Manitoba 12.0 27.0 11.0 Ontario 26.5 11.5 4.5 15.5 Quebec 26.9 8.0 11.9 19.0 New Brunswick 12.0 27.0 4.5 15.5 Nova Scotia 16.0 31.0 3.0 14.0 Prince Edward Island 16.0 31.0 4.5 15.5 Newfoundland and Labrador 14.0 29.0 14.0 3.0 Northwest Territories 26.5 15.0 11.5 4.0 Nunavut 12.0 27.0 15.0 4.0 Yukon 14.0 15.0 30.0 3.0 Average rate 12.7 27.7 3.5 14-5 Tax Rates and Taxable Income Brackets, 2014 Rate, % Income Bracket, $ Rate, % Income Bracket, $ Federal 15.00 O-43.953 New Brunswick 9.68 O-39,305 22.00 43,954-87,907 14.82 39.306-78,609 26.00 87,908-136,270 16.52 78,610-127,802 29.00 136,721 and over 17.84 127,803 and over British Colombia 5.06 0-37,606 Nova Scotia 8.79 0-29.590 7.70 37,607-75.213 14.95 29,591-59,180 10.50 75,214-86,354 16.67 59,181-93,000 12.29 86,355-104,858 17.50 93,001-150,000 14.70 104,859-150,000 21.00 150,001 and over 16.80 150,001 and over Alberta 10.00 All income Prince Edward Island 9.80 0-31,984 13.80 31,985-63,969 16.70 63.970 and over Saskatchewan 11.00 0-43,292 Newfoundland and Labrador 7.70 O-34,254 13.00 43,293-123,692 12.50 34,255-68,508 15.00 123,693 and over 13.30 68,509 and over Manitoba 10.80 0-31,000 Yukon 7.04 O-43.953 12.75 31,001-67,000 9.68 43,954-87,907 17.40 67,001 and over 11.44 87,908-136,270 12.76 136,271 and over Ontario 5.05 O-40,120 Northwest Territories 5.90 0-39,808 9.15 40,121-80,242 8.60 39,809-79,618 16וו 80,243-150,000 12.20 79,619-129,441 12.16 150,001-220,000 14.05 129,442 and over 13.16 220,001 and over Quebec 16.00 0-41,495 Nunavut 4.00 O-41,909 20.00 41,496-82,985 7.00 41,910-83,818 24.00 82,986-100,970 9.00 83,819-136,270 25.75 100,971 and over 11.50 136,271 and over