Question: Opening UCC balances Class 1 $330,000 Class 8 $56,000 Class 10.1 $21,000 Class 13 $45,000 Class 50 $260,000 The company purchased furniture on August 1,

Opening UCC balances

Class 1 $330,000

Class 8 $56,000

Class 10.1 $21,000

Class 13 $45,000

Class 50 $260,000

The company purchased furniture on August 1, 2020 for $44,914.

On the same date, the company sold furniture, which had been originally purchased for $22,031, for $15,364.

Calculate the maximum impact on business income for the year from furniture and other miscellaneous tangible capital assets.

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