Morris Ltd. (owned by Martin Morris) has only one Class 1 building. During 2020, the Company disposes of the building and replaces it with a leased property. The following information relates to this disposition: Proceeds of Disposition Allocastion Land (Estimated Value) Building (Estimated Value) Tolal Proceeds of Disposition Adjusted Cost Base of Land Original Cost of Building UCC Class 1 $ 300,000 110,000 $ 410,000 $ 200,000 175,000 150,000 Requirement: In the absence of a special rule, calculate the tax implications of the disposal of the building, and the amount to be included in the Net Income for Tax Purposes.