During the current taxation year, KT Ltd$.,$ a Canadian$-$controlled private corporation located in Nova Scotia earned $$160,000$ of active business income. In addition, the company made the following capital transactions:

Gain on sale of shares of a public corporation $ $48,000$

Loss on shares of a public corporation $(20,000)$

At the end of the previous taxation year, the following unused losses were available for carryforward:

Net capital losses $$29,000$

Non$-$capital losses $42,000$

Required:

For the current taxation year of KT Ltd$.,$ calculate the following:

$($a$)$ Net income for income tax purposes

$($b$)$ Taxable income

$($c$)$ Total federal income tax.