Question: Question 5 Nick Ltd., with a taxation year that ends on December 31. The Company has a Class 8 (20 percent) UCC balance on January

Question 5 Nick Ltd., with a taxation year that ends on

Question 5 Nick Ltd., with a taxation year that ends on December 31. The Company has a Class 8 (20 percent) UCC balance on January 1, 2019 of: During 2019, it acquires eligible Accll Class 8 assets at a total cost of: The Company also disposes of Class 8 assets for total proceeds of: The Class 8 Assets disposed off had a cost of: $2,000,000 $360,000 $150,000 $130,000 Determine the maximum Class 8 CCA that Nick Ltd. can deduct for 2019. Determine the UCC balance at January 1st, 2020. Explain any other tax consequences for the For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). year 2019. D

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