Problem: A Canadian resident corporation has a portfolio of investments which earned dividends from taxable Canadian public corporations of 324500 in the current year. The corporation purchased this portfolio of investments using excess cash as well as a loan from the bank. During the current year, the corporation paid $15000 of interest on the bank loan used to purchase the portfolio of investments. In addition the corporation purchased a $100,000 par-value bond with a 6% interest rate on September 1 of the current year. What is the correct amount of net property income the corporation should report on its tax return for the current year ended December 31?