$($Chapter $13)2$IntseBookReferencesCinder Inc. is a Canadian$-$controlled private corporation based in your province. The company operates a wholesale business. The following information is provided for its year ended May $31,2024$:$1.$ Net income for tax purposes is $$212,000.$ The following are included in this amount.Interest income from bondsInterest income on overdue trade accounts receivableTaxable capitalgain on sale of landEligible dividends from Canadian public corporationsNon$-$eligible dividends from PQ Ltd$.($see item $2$ below$)$$$10,0001,00014,00012,0006,0002.$ PQ Ltd$.$ is a Canadian$-$controlled private corporation. Cinder owns $60\%$ of its common voting shares. In $2024,$ PQ claimed the small business deduction on $$320,000$ of its active business income. PQ paid a non$-$eligible dividend of $$10,000,$ of which Cinder's share is $$6,000(60\%).$ As a result of the dividend, PQ received a dividend refund of $$1,000$ from its non$-$eligible RDTOH$\mathrm{.}3.$ Cinder made contributions of $$4,000$ to registered charities. This amount has been correctly adjusted for in computing net income for tax purposes$\mathrm{.}4.$ The following information is from the $2023$ Tax return of Cinder.Non$-$capital lossesNon$-$eligible refundable dividend tax on handEligible refundable dividend taxon handDividend refundTaxable capitalAdjusted aggregate investment income$$5,0002,00000$Undermillion$$10$$ $30,0005.$ On May $31,2024,$ Cinder paid taxable dividends of $$20,000($eligible $$10,000$ and non$-$eligible $$10,000)$ to its shareholders.Required:Determine Cinder's federal income tax for the $2024$ taxation year.Note: Use $0\mathrm{.}3067$ when multiplying to represent $30\%.$ and $0\mathrm{.}3833$ when multiplying to represent $381/3\%.$ Do not multiply by more than $4$ decimal places and round your final answer to the nearest dollar. Enter subtractions as negative amounts.