Question: 24. Use the following information to answer the next two questions Bill has the following income and expense statement: Income Salary Year 2 Year
24. Use the following information to answer the next two questions Bill has the following income and expense statement: Income Salary Year 2 Year 1 $67,000 Bonuses Rental income $8,000 $15,000 Capital gains $500 $600 Canadian dividends $200 $200 EI benefits $16,000 Expenses Pension adjustment $0 $2,600 Childcare expenses $1,500 $1,500 RRSP contribution $2,700 $5,200 Charitable donation $500 $500 What is Bill's taxable income for Year 2? 27340 Expenses $4700 = $27340 31500 $4700 income a) $22,550.50 b) $27,400.00 $ 31500 $27,340.00 $31,987.45
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