In addition to its active business income of $300,000, P Ltd, a CCPC, received dividends of $30,000 from a public corporation and had a taxable capital gain of $90,000 on the sale of passive investments in 2021. A net capital loss carry-over from a previous year of $20,000 was deducted in arriving at the corporation’s taxable income. Management anticipates that in 2022, P Ltd will earn active business income of $450,000 and receive dividends from public corporations of $32,000. P Ltd is not associated with any other corporation and has under $10 million of taxable capital.

Determine P Ltd’s anticipated small business deduction for the 2022 taxation year.