AP 7-2 (Rental Income, Including CCA) During 2021, Ms. Alice Becker owns four residential rental properties. Relevant information on these properties is as follows: CCA class Capital cost of building January 1, 2021, UCC as follows: Rental receipts Property taxes Interest charges Other expenses (not including CCA) Net rental income (loss) Before CCA 26 Hart Street 1 $1,180,000 Nil 26 Hart Street $79,500 (17,756) ( 51,625) ( 4,500) $ 5,619 32 Barton Boulevard 1 $307,500 266,250 32 Barton Boulevard $16,000 (12,113) ( 5,250) ( 1,375) ($ 2,738) 14 Mark Avenue 3 $1,033,750 703,250 14 Mark Avenue $63,000 (15,500) ( 30,000) (6,750) $10,750 96 Flagler Street 1 $570,000 514,800 96 Flagler Street $46,500 ( 18,550) (12,750) ( 10,500) $ 4,700 Other Information: 1. The property at 26 Hart Street was acquired during 2021 for $1,180,000. 2. The property at 32 Barton Boulevard was sold during 2021 for $231,000. Ms. Becker had furnished this property several years ago at a cost of $28,750. The UCC fol these class 8 assets was $4,498 on January 1, 2021. Given the condition of the furnishings, they were simply given to the former tenants, who agreed to take them when they moved out 3. During 2021, Ms. Becker spent $78,750 on capital improvements to the property at 14 Mark Avenue. While none of the changes were required, the incoming tenant insisted on the changes before agreeing to the lease. These improvements will enhance the value of this property. 4. The building at 96 Flagler Street was sold during 2021 for $653,000. Required: Calculate Ms. Becker's minimum rental income for 2021. You should provide a sepa rate CCA calculation for each property and specify how much CCA should be taken for each building. Include in your solution any income tax consequences associated with the sale of the two buildings and the disposition of the furniture. Assume that the rental activity is not a busi ness and that the property values and costs shown are for the building only.

AP 7-2 (Rental Income, Including CCA) During 2021. Ms. Alice Becker owns four residential rental properties. Relevant information on theso properties is as follows: Other Information: 1. The property at 26 Hart Street was acquired during 2021 for $1,180,000. 2. The property at 32 Barton Boulevard was sold during 2021 for $231,000. Ms. Becker had furnished this property several years ago at a cost of $28,750. The UCC fol these class 8 assets was $4,498 on January 1, 2021. Given the condition of the furnishings they were simply given to the former tenants, who agreed to take them when they moved out 3. During 2021, Ms, Becker spent $78,750 on capital improvements to the property at 14 Mark Avenue. While none of the changes were required, the incoming tenant insisted on the changet before agreeing to the lease. These improvements will enhance the value of this property. 4. The building at 96 Flagler Street was sold during 2021 for $653,000. Required: Calculate Ms, Becker's minimum rental income for 2021. You should provide a sepa rate CCA calculation for each property and specify how much CCA should be taken for each building. Include in your solution any income tax consequences associated with the sale of the two buildings and the disposition of the furniture. Assume that the rental activity is not a busi ness and that the property values and costs shown are for the building only