Citadel 21 Inc. (Citadel) was incorporated on June 2, 2018 to provide secure private transportation of high-value goods (e.g., gold bars, expensive jewelry and art work). At the time of incorporation, Citadel establishes December 31 as its year-end for both tax and accounting purposes.

On July 18, 2018, Citadel purchased eight armored cars (CCA Class 10) to be used by its transportation personnel at a cost of $200,000 per vehicle. In December 2019, Citadel traded in two of its old cars for two new armored minivans. The list price of the new minivans was $280,000 per vehicle, and Citadel received a trade-in allowance towards this list price of $120,000 per old vehicle.

REQUIRED

Calculate the maximum Class 10 CCA that can be deducted for the years ending December 31, 2018 and 2019. Ignore the half-year rule, but apply the Accelerated Investment Incentive if it is applicable. Calculate the opening UCC balance for the following 2020 year.