During the 2019 taxation year, a corporation sells a depreciable asset with a capital cost of $130,000 for $140,0000. The asset had a net book value in the accounting records of $112,000. It was not the last asset in Class 8 and, prior to the disposition, the UCC balance for Class 8 was $96,000. What is the amount of the adjustments that will be required in the conversion of the corporation's Net Income For Tax Purposes to Taxable Income related to this asset?

An addition of $44,000.

An addition of $5,000 and an addition of $34,000.

A deduction of $28,000, an addition of $5,000, and an addition of $34,000.

A deduction of $28,000 and an addition of $5,000.

 

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