Microfast Ltd. has a calendar-based taxation year ending December 31.

As of January 1, 2022, Microfast had a $347,291 UCC balance for its Class 8 depreciable property. Other information: On March 1, 2022, the company purchased class 8 property for $111,256. As a result of trading in older class 8 property, the company received a trade-in allowance of $20,000, resulting in a net cost for the new property of $91,256. The capital cost of the property traded in was $58,425. It is the policy of the company to deduct the maximums CCA in Each year