On January 1, 2020s, Bard Ltd. has a balance in its Class 8 of $52,400. The only transactions involving Class 8 assets during 2020 was a disposition on July 12 of a group of Class 8 assets that had cost $42,300 and purchase on August 10th of $60,000. The proceeds of disposition for these assets was $51,800. The Companys taxation year ends on December 31. What is the effect of the disposition on the Companys 2020 net business income?

In addition, determine the January 1, 2021 UCC balance.