Question: Mrs. Partner would like you to do the relevant calculations and answer Frank's questions based on the following assumptions: - the combined federal/provincial corporate tax

Mrs. Partner would like you to do the relevant calculations and answer Frank's questions based on the following assumptions: - the combined federal/provincial corporate tax rate is 13% for active business income eligible for the small business deduction and 25% on active income not eligible for the small business deduction and 50.67% on investment income - the top combined federal/provincial personal marginal rate is 50% and that Frank will have sufficient other income to be in the top bracket during his retirement years - the combined federal/provincial dividend tax credit is equal to the gross-up - the lifetime capital gains exemption limit for QSBC shares increases to $1,016,836 in 2024.

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