1. Below are MSPCs UCC balances on January 1, 2020. Our accountants have always deducted the maximum CCA each year in the past.

Class 1 (a building acquired in 2011)	$425,980
Class 8	$216,000
Class 10	$99,000
Class 13	$224,000

1. During the year, Michael sold the office building they were working out of for $550,000. Of that total, at the time of the sale, it was estimated that the land under the building was worth $98,000. The cost of the building was originally $615,000, of that total, $60,000 was the value of the land at the time the building was purchased.

After selling the old office building, MSPC purchased a new building that cost $885,000, of that total, $111,000 was the value of the land. The old building was used entirely for office space. The new building will also be used for office space and should be set-up in a new Class 1.

2. During the year, MSPC sold their old office furniture for a total of $40,000 (original cost was 59,000). They purchased new furnishings for $54,000.

3. During the year, Michael purchased an Audi S6 Sedan for Jim to use when hes out selling paper. Jim likes to drive a fancy car to impress his clients. The cost of this car was $103,000. Jim drove the car 29,000km in total but only 8,550km ended up being for business purposes.

4. MSPC also leases a building for some extra space. They signed a 7 year lease on January 1, 2018 with an option to renew for 3 years. When they signed the lease MSPC immediately spent $280,000 on leasehold improvements to make the space more comfortable.

5. During 2016 we spent $48,000 to acquire a limited life franchise that has a legally limited life of 8 years.