Exam Exercise Five - 20 (Separate Class Election) Multilink Inc. has a December 31 year end. In January, 2018, Multilink Inc. acquires five photocopiers at a cost of $5,500 each. In December, 2018, two of these photocopiers are upgraded for newer models. The new photocopiers cost $6,000 each, and the Company receives an upgrade allowance for each old photocopier of $2,000. Indicate the amount(s) that would be deducted from 2018 business income if no election is made to put each photo- copier in a separate class. Contrast this with the deduction(s) that would be available if the separate class election is used