With respect to GRIP and LRIP balances, which of the following statements is NOT correct? A CCPC'S GRIP account is increased by 72% percent of the company's taxable income. A CCPC'S GRIP account is reduced by the amount of eligible dividends designated in the preceding taxation year.  A CCPC'S GRIP account is increased by the amount of eligible dividends received during the current year. A public company's LRIP account is increased by the amount of non-eligble dividends received.

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