Question: During the current year, Norton Tools Ltd. Has new taxable capital gains of $45,000, receives dividends from taxable Canadian corporations of $34,00, and earns interest

During the current year, Norton Tools Ltd. Has new taxable capital gains of $45,000, receives dividends from taxable Canadian corporations of $34,00, and earns interest income of $21,000. Taxable income for the year equals $280,000, of which $210,000 is eligible for the small business deduction. The companys additional refundable tax for the year is equal to:

a. $7,467

b. $7,040

c. $10,667

d. $8,427

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