During the year, the company sold a delivery truck and purchased another. Both the old and new truck are Class 10 assets. The truck sold was purchased several years ago for $38,000 and had a net book value of $16,300 at the time of sale. A new truck was purchased for $55,000. This truck qualifies for the accelerated investment incentive.

Information from the 2019 tax return:

1. Closing UCC balances were: UCC Class 8, closing balance = $41,700 UCC Class 10, closing balance = $36,500 UCC Class 14.1, closing balance = $4,200

2. Loss carryforwards available: Non-capital loss carryforward = $24,600 Net capital loss carryforward = $7,500

You are advised to claim the maximum CCA deductions on the corporate tax return and to utilize the loss carry- forwards as soon as possible.

Required:

Calculate CCA, terminal losses and/ or recapture.(CCA rate: class 8 20%, class 10 30%, class 14.1 5%)