Calculating US FTC on 1st year T1

[Canadian Newbie]

Hi everyone-

I am struggling to calculate the foreign taxes paid amount for the 1116. My T1 return and spouse is simple this year with only two components-wages and interest income. The amounts are for part of the year we were residents.

In general the total interest for my return and spouse is 1,700 and wages of 8,000.
The wages are US based so we are taking the foreign tax credit in Canada for the US tax paid on the wages. We need to take the FTC in the US for the interest income (part year) which is taxable in Canada under the treaty. It will include both US and Cdn interest for the residency period.

In determining the foreign tax paid for US, it would seem logical to take the percentage of tax related to the interest income. MY question is, what amount would you apply the percentage of 1,700/9,700 to? Would it be the Canadian tax before any credits or would you have to take the amounts for the Cdn FTC and the Non Refundable credits allowed by Canada and then calculate the amount? It would seem that you would probably take the Total calculated tax before the FTC for the wages and then reduce for the non refundable credits such as for the basic personal amount and then apply the percentage. This would make sense because the non refundable credits reduce the amount we are paying to Canada. How can you take a tax credit on the amount before this since it is not what is actually paid?

Thanks in advance!