Question: 5 7 Gurpreet received $ 1 , 2 0 0 in cash dividends from ABC Corporation. From XYZ Corporation, he received a stock dividend of

57Gurpreet received $1,200 in cash dividends from ABC Corporation. From XYZ Corporation, he received a stock dividend of 45 additional shares, each with an assigned value of $11. Both ABC and XYZ are Canadian-controlled private corporations whose entire income is taxed at the small business rate. What amount must Gurpreet report in taxable dividend income for the year?a) $1,200 b) $1,656 c) $1,695d) $1,949

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