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 Company's taxation year ends on December 31.What is the effect of the disposition on the Company's 2020 net business income?

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