Question: Practice Problem #1 Bob's Breakfast Diner Inc. has a Class 8 balance of $350,000. During the current year, an asset with a capital cost of

Practice Problem #1 Bob's Breakfast Diner Inc. has a Class 8 balance of $350,000. During the current year, an asset with a capital cost of $22,000 is sold for $30,000. There are no other dispositions during the year and there are over 100 assets left in Class 8. What are the tax consequences of this disposition\"!r

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