Old Time Company purchased a Class 10 truck many years ago for $8,000. The truck has now become a collectors’ item and was sold on August 1, 2017, for $10,000. The netbook value on that date was $500 and the Class 10 UCC balance was $11,525. There are other assets left in the class. Accounting net income before tax for the year ended December 31, 2017, was $24,000. Amortization of depreciable capital assets for accounting purposes is equal to the CCA deducted for tax purposes. Net income for tax purposes is:

Select one:

a. $25,000.

b. $26,000.

c. $15,000.

d.$15,500.