Question: Please show step by step solution for the calculation. Exco Ltd is a Canadian controlled private corporation with interest income of $ 1 0 0

Please show step by step solution for the calculation.
Exco Ltd is a Canadian controlled private corporation with interest income of $ 100,000 and 100% of its active business income of $ 750,000 earned in Ontario for both 2021 and 2020. Exco Ltd. has no associated corporations.
Required: (show all calculations)
1.Calculate Exco Ltd.s federal income tax payable for 2021 under Part I of the Income Tax Act.

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