Computer Ltd. generated the following data for its December 31, 2018 taxation year:

Capital Gains $35,000

Interest Income $50,000

The balance in the tax accounts on January 1, 2018:

Charitable Donation carryforwards$15,000

Net capital loss from 2011$4,000

Non-capital loss from 2016$10,000

What is the minimum taxable income to be reported on Computer Ltd. corporate tax return?

1)

$36,500

2)

$38,500

3)

$56,000

4)

$70,000