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Ravinder’s marginal federal tax rate is 29 percent

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Ravinder’s marginal federal tax rate is 29 percent.  He has a foreign investment that earns $50,000 (Canadian) of non-business income.  The government of the foreign country withholds $10,000 of this amount, with the remaining $40,000 being remitted to Ravinder during 2019.  By what amount will Ravinder’s 2019 federal Tax Payable increase as a result of this transaction?



 



		
$14,500.

		
$11,600.



		
$ 6,275.



		
$ 4,500.