JTL Inc. is a CCPC which was started $10$ years ago by Mr$.$ Prasad with an initial investment of $$18,000.$ Mr$.$ Prasad has decided to retire and, on January $12023,$ he wishes to have JTL sell their assets to a corporate purchaser at their fair market values. Then, he would like to wind up JTL and withdraw all the cash remaining in JTL for his personal use.

JTL has the following assets on their balance sheet:

JL has the following assets on their balance sheet:

The liabilities and equity section of their balance sheet is as follows:

The coporate purchaser will buy all assets, with the exception of the accours receivable. The

accounts receivable will instead be purchased by a factoring company at its fair market valae.

The purchaser will pay a $$60,000$ premium above the fair market value of the assets. This

premium reflects unreconded goodwill.

Mr$.$ Prasad has a marginal tax rate of $50\%.$

The coporate tax rate $($combixing federal and provizcial rates togethe

$)$ is $13\%$ for the first

$$500,000$ of busizess income, $27\%$ on additional business incouse, and $$0\mathrm{.}67\%$ for investment

incouse. The corporation has a $$6,000$ soe$-$eligible RDTOH balance, a $$12,000$ capital dividend

balance, and no GRIP at the begining of the year.

REQUIRED:

Detenwine how much cash Mr$.$ Prasad will have remaining after tases upon winding up the

corporation and withdrawing all of the fursk.