In 2012,XYZ Inc.located in Ontario had income from operation of $3,850,000,received interest of $150,000,paid $200,000 in interest,received dividends from another Canadian corporation of $100,000,and paid $400,000 in dividends to its common shareholders.If the applicable income tax rate is 33%,what is the corporation's tax liability?
A) $1,155,000
B) $1,254,000
C) $1,287,000
D) $1,353,000
Correct Answer:
Verified
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