Cinder 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, 2023: Net income for tax purposes is $215,000. The following are included in this amount. Interest income from bonds $ 13,000 Interest income on overdue trade accounts receivable 1,100 Taxable capital gain on sale of land 17,000 Eligible dividends from Canadian public corporations 13,200 Non-eligible dividends from PQ Ltd. (see item 2 below) 6,600 PQ Ltd. is a Canadian-controlled private corporation. Cinder owns 60% of its common voting shares. In 2023, PQ claimed the small business deduction on $352,000 of its active business income. PQ paid a non-eligible dividend of $12,000, of which Cinder’s share is $8,000 (60%). As a result of the dividend, PQ received a dividend refund of $3,000 from its non-eligible RDTOH. Cinder made contributions of $6,000 to registered charities. This amount has been correctly adjusted for in computing net income for tax purposes. The following information is from the 2022 Tax return of Cinder. Non-capital losses $ 7,000 Non-eligible refundable dividend tax on hand 4,000 Eligible refundable dividend tax on hand 0 Dividend refund 0 Taxable capital Under $10 million Adjusted aggregate investment income $ 32,000 On May 31, 2023, Cinder paid taxable dividends of $24,000 (eligible $12,000 and non-eligible $12,000) to its shareholders.Required:Determine Cinder’s federal income tax for the 2023 taxation year. (Use 0.3067 when multiplying to represent 30⅔%. and 0.3833 when multiplying to represent 38 1/3%. Do not multiply by more than 4 decimal places and round your final answer to the nearest dollar. Enter subtractions as negative amounts.)