In the current taxation year, a corporation acquired a rental property from its sole shareholder. The building was sold for its FMV of $425,000, but was not allocated to a separate Class 1. The shareholder originally paid $450,000 for the building two years ago. The property was a Class 1 (4%) property to the shareholder. The shareholder has earned rental income on the property since its acquisition. The UCC of the building at the time of the sale was $420,000. Which one of the following amounts represents the maximum CCA that the corporation may claim for this building in the current taxation year?

Options:

a. $8,500. b. $16,320. c. $7,200. d. $17,000.