St. John Corporation, a Canadian controlled private corporation has Taxable Income of $250,000 in 2019, 87 percent

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Question:

St. John Corporation, a Canadian controlled private corporation has Taxable Income of $250,000 in 2019, 87 percent of which is earned in a Canadian province. The company reported Canadian active business income of $235,000 for the year, and no foreign taxes were paid. The corporation has no M&P activity. It is associated with one other company, which received $200,000 of the annual business limit. What is the federal Tax Payable for St. John Corporation for the 2019 year?

a. $26,650

b. $29,975

c. $23,400

d. Nil