Nick Ltd., with a taxation year that ends on December 31. The Company has a Class 8 (20 percent) UCC balance on January 1, 2019 of: During 2019, it acquires eligible Accll Class 8 assets at a total cost of: $900,000 $160,000 The Company also disposes of Class 8 assets for total proceeds of: $80,000 The Class 8 Assets disposed off had a cost of: $71,000 Determine the maximum Class 8 CCA that Nick Ltd. can deduct for 2019. Determine the UCC balance at January 1st, 2020. Explain any other tax consequences for the year 2019.