On January 1, 2020, Bard Ltd. has a balance in its Class 8 of $32,400. The only transaction involving Class 8 assets during 2020 was a disposition on July 12 of all Class 8 assets that had cost $62,300. The proceeds of disposition for these assets was $41,800. The Company's taxation year ends on December 31.

Required: What is the effect of the disposition on the Company's 2020 net business income? In addition, determine the January 1, 2021 UCC balance.