AP 5-7 (CCA, Recapture, and Terminal Losses-Includes Taxable Capital Gains) On January 1, 2022, the beginning of its calendar-based taxation year, Bard Ltd. has the following information with respect to its depreciable property: Property Description Class 8 furniture UCC $ 24,000 Capital Cost $ 147,000 Class 1 buildings (purchased in 2006) 562,000 846,000 Class 10 automobiles 220,000 315,000 During the 2022 taxation year, the following transactions occur: Sale of Furniture Furniture with a capital cost of $52,000 was sold for $36,000. There is still property in class 8 on the last day of the taxation year. Purchase and Sale of Buildings A new building was purchased on February 1, 2022, with a capital cost of $325,000. Of this total, $75,000 was the estimated value of the land on which the building was situated with the building valued at $250,000. All of the floor space of the building will be used 100% for office space. A timely election was filed to include the building in a separate class 1. Also during the year, a building (including the land) with a capital cost of $335,000 was sold for $352,000. Of the $352,000 received, $200,000 is for the land on which the building is situated and the remaining $152,000 for the building. The ACB of the land was equal to the $200,000 POD.