A Canadian Public Company Has Tax Payable of $62,000 in 2018

Multiple Choice

A Canadian public company has Tax Payable of $62,000 in 2018, $95,000 in 2019, and $75,000 in 2020. The company would like to minimize its 2020 instalments. What would its instalments be?

A) One monthly payment of $5,167 per month, followed by eleven monthly payments of $8,167 per month.
B) Twelve payments of $5,167 per month.
C) Twelve payments of $6,250 per month.
D) Two monthly payments of $5,167 per month, followed by ten monthly payments of $8,467 per month.