Reference no: EM133046185
Question - At the end of 2019, Gomez Inc., a CCPC, has a GRIP of $53,400. For 2020, the Company has Taxable Income of $143,000. This includes aggregate investment income of $19,000.
In addition, the Company receives eligible dividends of $12,300. In calculating 2020 Tax Payable, the Company has a small business deduction of $16,150. During 2019, the company paid dividends of $42,000 with $13,700 of the dividends designated as eligible.
Dividends paid during 2020 total $51,000, with $18,400 of this amount being designated as eligible. What is the amount of the Company's GRIP at the end of the 2020 taxation year?
a. $80,080
b. $75,380
c. $67,780
d. $93,780
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