Why Limited is a Canadian public corporation. For the current year, Why Limited has correctly...
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Accounting
Why Limited is a Canadian public corporation. For the current year, Why Limited has correctly computed net income for tax purposes of $1,000,000, based on the following sources of income.
Business income
$946,000
Taxable capital gains
16,000
Dividends from Canadian corporations
24,000
Rental income
14,000
Why Limited has net capital losses carried over from prior taxation years of $30,000. What is Why Limiteds minimum taxable income for the current year, assuming it claims all possible deductions in computing taxable income?
A.
946,000
B.
970,000
C.
960,000
D.
984,000
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