Regina Co. is a CCPC with a December 31 year end. Regina is not associated...
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Accounting
Regina Co. is a CCPC with a December 31 year end. Regina is not associated with any other corporations. Taxable capital employed in Canada for the current and preceding years was less than $10,000,000. AAII for the current year and preceding year was $72,000 and $62,000, respectively. What is the reduced business limit for Regina for the current year?
A. $50,000
B. $440,000
C. $60,000
D. $390,000
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