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Ms. Gold has been investing in real estate for almost half a century. On January 1, 2018, she owned four rental properties and the relevant

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Ms. Gold has been investing in real estate for almost half a century. On January 1, 2018, she owned four rental properties and the relevant facts on these properties are as follows: . 112 Bay Street This is a Class 3 building that has a capital cost of $850,000. Its UCC at the beginning of the year was $627,000. During the year, it generated rent of $81,000 and incurred property taxes of $10,500, interest charges of $13,000, and other expenses (excluding CCA) of $17.500. 2022 Richmond Road This is a Class 3 building that had a capital cost of $45,000. It was sold on June 1. For CCA purposes, it was included in the same Class 3 pool as 2024 Richmond Road. Of the sale proceeds, $58,000 was allocated to the building. From January 1 to May 31, the building generated rent of $10,000 and incurred property taxes of $3,600, interest charges of $1,100, and other expenses (excluding CCA) of $1,500. This property contained furniture that Ms. Gold had acquired at a cost of $6,000. On January 1, 2018, this furniture had a UCC balance of $3,500. It was sold at the same time as the rental property. The proceeds of the furniture sale were $2,300. 2024 Richmond Road This is a Class 3 building that has a capital cost of $45,000. At the beginning of the year, the UCC of the Class 3 pool, which included both 2022 Richmond Road and 2024 Richmond Road, was $61,000. During the year, it generated rent of $24,000 and incurred property taxes of $7,750, interest charges of $1,800, and other expenses (excluding CCA) of $3,600. 16 Booth Street This Class 1 building has a capital cost of $418,000. Its UCC at the beginning of the year was $383,000. During the year, the unit generated rent of $18,000 and incurred property taxes of $6,500, interest charges of $10,800, and other expenses (excluding CCA) of $4,400. Required: Calculate Ms. Gold's net rental income for 2018. You should provide a separate calculation for each property. Specify how much CCA should be taken for each building. (18 marks)

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