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Kushner is the sole shareholder of Kushner Consulting Ltd., which provides professional consulting services to several organizations in the oil and gas industry. Kushner Consulting

Kushner is the sole shareholder of Kushner Consulting Ltd., which provides professional consulting services to several organizations in the oil and gas industry. Kushner Consulting Ltd. was incorporated on September 1, 2019, and the corporation has selected a fiscal year-end of December 31. The corporation leases office space in Calgary, Alberta. It is now March 2020, and you are preparing the corporate tax return for Kushner 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. Jacob Kushner informs you that the corporation is doing well and he has developed a strong network of clients in the oil and gas consulting industry. Requirement 1. Calculate the maximum Capital Cost Allowance deduction that can be claimed for Kushner Kushner. 1. On September 1, 2019, Kushner Kushner Consulting purchased several pieces of office furniture for the rented office space including several chairs, a small desk, several small sidetables, and two sofas. The total cost of all purchased furniture was $42,050. 2. On September 6, 2019, Kushner Kushner Consulting purchased laptop computers and a printer for a total cost of $5,270. 3. On November 1, 2019, Kushner Kushner Consulting purchased a luxury sedan for $51,200. The vehicle will be used by the soleshareholder, Jacob as he often needs to travel to meet clients or to inspect potential job sites 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. Leave unused cells blank; do not enter "0.") Asset Class 8 Class 50 Class 10.1 Net additions Office furniture CCA deduction Electronic equipment CCA deduction Automobile CCA deduction Closing UCC balance, 2019.

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