Question $14$

$8$ Points

Adams Supplies Ltd$.,$ with a taxation year that ends on December $31$ and has a Class $8$ UCC $($at $20\%$ CCA$)$ balance of $$750,000$ on January $1,2023.$ In $2023,$ the company purchases a Class $8$ property for $$300,000$ that is eligible for the Accll. The Company also disposes of Class $8$ property for proceeds of $$140,000$ in $2023$ with a capital cost of $$200,000$ and a UCC balance of $$90,000.$

Required:

A$).$ Determine the maximum Class $8$ CCA that Adams can claim for $2023$ including the UCC balance as of January $1,2024.$

B$).$ Show the effect on the sale of property in $2023.$

$[$MUST SHOW DETAILED CORRECT CALCULATION TO GET FULL CREDIT$]$