Estimate the income tax payable that is tied to the sale of the shares of Providence Company owned by Jeremiah Providence, a long$-$time resident of Elmira, Ontario. The Providence is a build$-$design company. Below are the details of the transaction:

Date of closing of sale: December $12,2022.$

Proceeds of sale: $$1\mathrm{.}79$ million

ACB of shares: $$0\mathrm{.}04$ million

Marginal income tax rate: $53\%$

Express your answer in $millions to three decimal places i$.$e$.$ $$0\mathrm{.}412$ million should be expressed as $0\mathrm{.}412$

Answer:

the correct answer is $0\mathrm{.}22$ please tell me how