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Barber Ltd. has a Class 10 UCC balance of $423,000. During the current year, a Class 10 property with a capital cost of $42,000 is
Barber Ltd. has a Class 10 UCC balance of $423,000. During the current year, a Class 10 property with a capital cost of $42,000 is sold for $51,000. There are no other dispositions during the year and there are multiple properties remaining in Class 10. What are the income tax consequences of the disposition? Explain with proper calculations
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