Question: Problem 1-Capital Cost Allowance 18 marks For each situation, calculate the maximum CCA that can be taken on each class of assets for the

Problem 1-Capital Cost Allowance 18 marks For each situation, calculate the maximum CCA that can be taken on each class of assets for the year and calculate the undepreciated capital cost (UCC) for each class of assets on January 1 of the following year. Determine the amount of any recapture, terminal loss or taxable capital gain/loss, if applicable (Write 0 if not applicable). Ignore GST/HST/PST considerations. Part A (6 marks) On January 1, 2021, Aston Inc. has a Class 53 UCC balance of $500,000. During 2021, additional Class 53 property is acquired for $75,000. There were no dispositions during the year. Determine the maximum Class 53 CCA for 2021, as well as the UCC balance at January 1, 2022 2021 CCA Recapture Taxable Capital Gain, January 1, 2022 UCC Terminal Loss Taxable Capital Loss

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