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Assignment problem five-4 (CCA and CEC Calculation over 3 years) Park manufacturing began operation on January 1, 2013 and choose to have a December 31 taxation year end. The cost of incorporation were 25,000. Because it had limited cash resources, the company decided to lease the building in which it will operate. The monthly lease payment is 5,000. The term of the lease is 5 years with three renewal options, each for a period of 5 years. In order to fit the building to its needs, the company spends 150,000 on leasehold improvements. The company product are manufactured under 5 year franchise agreement. The cost of this agreement was 220,000. It was signed on January 1, 2013. Other capital expenditures during 2013 are as follows: Manufacturing equipment 262,000 Furniture and fixtures 87,000 Small tools (all under 500 each) Delivery vans (5 at $32,000) 12,000 160,000 In addition to these assets, the company acquired a 95,000 BMW for use by the martin park, the CEO and only shareholder of the company. The company had sustained profits during 2013 and 2014. However on January 3, 2014 Martin Park was killed in an automobile accident. He was driving the company BMW which was totally destroyed. The insurance proceeds were 65,000 all which was received in 2015. The executors of Mr. Park's estate intend to wind up the corporation by the end of the year. Fortunately, early in 2015 an individual was found to assume the lease obligation on the building. He also paid 75,000 to the estate to retain the leasehold improvements in the building 200,000 for the continued use of the manufacturing franchise (it was transferable), and 50,000 for the customers list accumulated by the company. The company did not acquire any additional assets during 2015 and had of all assets by the end of the year. The proceeds resulting from the other assets sales during 2015 were as follows: Manufacturing equipment 186,000 Furniture and fixture 23,000 Small tools 5,000 Delivery vans 85,000 Required: Determine the maximum CCA and CEC deductions for the year 2013 and 2014. Also indicate the UCC and CEC balance on January 1, 2015. In addition, determine any net income for the tax purpose inclusions or deductions resulting from the assets disposals during 2015