Jarod Hanover is the sole shareholder of Hanover Consulting 1.d, which provides professional consulting services to several organizations in the oil and gas industry Hanover Consulting Lid was incorporated on September 1, 2019, and the corporation has selected a fiscal year-end of December 31. The corporation leases office Space in Toronto, Ontario It is now March 2020, and you are preparing the corporate tax roturn for Hanover Consulting Ltd. for the fiscal year ended December 31, 2019, which includes the first four months of operations from September 1 to December 31, 2019. Jarod Hanover inform you that the corporation is doing well and he has developed a strong network of clients in the oil and gas consulting industry (Click on the icon to view the transactions.) Required Requirement 1. Determine the appropriate Capital Cost Allowance classes for each of the capital asset acquisitions Select the appropriate class for each asset Asset Class Offio fumitur Electronic equipment Automobiles Requirement 2. Jacod has heard that capital assets cannot be depreciated until they are considered 'available for use "Explain the available for use rules for tax purposes and when the capital asset purchases in the current fiscal period would be considered available for use by the corporation to Jarod Choose the correct statement below OA "Available for use" means that the asset has been purchased and the sale has been finalized. However, additions to a class for asset purchases are made Choose from any list or enter any number in the input fields and then continue to the next question O A. "Available for use" means that the asset has been purchased and the sale has been finalized. However additions to a class for asset purchases are made when the asset is available for its intended use OB Available for use" generally means that the asset is purchased and delivered Additions to a class for asset purchases are made when the asset is delivered OC Available for use generally means that the asset is ready to be used for its intended purpose, and additions to a class for asset purchases are made when the asset is available for its intended use. OD. "Available for use" generally means that the asset is ready to be used for its intended purpose Additions to a class for asset purchases are made when the asset is purchased Requirement 3. Calculate the maximum Capital Cost Allowance deduction that can be claimed for Hanover Consulting Ltd, as well as the closing Undepreciated Capital Cost balances for each dass at the end of 2019 Select the classes that represent the collection of assets in the table below Then enter the maximum Capital Cost Allowance deduction and the closing Choose from any list or enter any number in the input fields and then continue to the next question Requirement 3. Calculate the maximum Capital Cost Allowance deduction that can be claimed for Hanover Consulting Ltd, as well as the dosing Undepreciated Capital Cost balances for each class at the end of 2019 Select the classes that represent the collection of assets in the table below. Then enter the maximum Capital Cost Allowance deduction and the closing Undepreciated Capital Cost balances for 2019 for each class. (Round amounts to the nearest dollar. Teave unused cells blank do not enter "07 Asset Net adsons Office furniture CCA deduction Electronic equipment CCA deduction Automobile CCA deduction Closing UCC balance, 2019 Choose from any list or enter any number in the input fields and then continue to the next question i Transactions - all im SS ne 1. On September 1, 2019, Hanover Consulting purchased several pieces of office furniture for the rented office space including several chairs, a small desk, several small side tables, and two sofas. The total cost of all purchased furniture was $42,100 2. On September 6, 2019, Hanover Corsulting purchased laptop computers and a printer for a total cost of $5,280. 3. On November 1, 2019. Hanover Consulting purchased a luxury sedan for $52,000. The vehicle will be used by the sole shareholder, Jarod Hanover, as he often needs to travel to meet clients or to inspect potential job sites ti Inc tion Print Done