Elaine Ltd. is a Canadian-controlled private corporation. Its refundable dividend tax on hand (RDTOH) account at the end of the prior year was $35,000. For the current taxation year, its refundable portion of Part I tax was $29,000. The corporation received no dividends this year. It paid taxable dividends of $60,000 in the prior year and $75,000 in the current year.

Calculate the balance in Elaine Ltd.’s (RDTOH) account at the end of the year rounded to the nearest thousand dollars.

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