T o S e e e oo On January 1, 2023, Miss Helen Parr receives a $51,000 cheque from an attorney representing the estate of her recently deceased aunt, Megan. The money was bequeathed by Miss Parr's aunt without any conditions and is not subject to any income tax at the time that it is received. In anticipation of this bequest, Miss Parr has purchased a condominium that will be available for occupancy on January 1, 2024. As she has no need for the $51,000 until the condominium becomes available, she would like to invest the funds for the 2023 taxation year. She is considering the following two alternatives for investments to be made January 1, 2023: View the altematives. Miss Parr resides in a province and has sufficient employment income so that she is in the 29% federal income tax bracket and the 14% provincial income tax bracket. The provincial dividend tax credit on eligible dividends is equal to 25% of the gross up. Read the requirement. Calculate the after-tax retention if the $51,000 is invested in the GIC. Interest Income Income Tax | | After-Tax Retention To determine the after-tax return of purchasing the shares, first calculate the increase in net income and taxable income. Dividends received Eae sl Gross up !:: Taxable Dividends e Capital Gain : Inclusion Rate (1+2) Taxable Capital Gain Increase in Net Income and Taxable Income @ Time Remaining: 01:18:11 m