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Akrotech has a January 1, 2020 UCC balance of $16,500 in class 10.1 for a passenger car purchased last year for $62,000. During 2020 they

Akrotech has a January 1, 2020 UCC balance of $16,500 in class 10.1 for a passenger car purchased last year for $62,000. During 2020 they sold the car for $48,000 and purchased a new car for $84,000. Calculate the 2020 tax implications of the these two transactions.

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