On June 1, 2020, a company acquires a new residential complex building as an investment at a cost of $1,200,000. Of this total, an amount of $300,000 represents the value of the land. The building consists of multiple units that will be offered to the public to generate rental income from residential use. The building is allocated to a separate Class 1.

Which of the following answers corresponds to the maximum CCA allowed for the company's Class 1 for the year 2020?

$54,000

$18,000

$36,000

None of the choices shown.

$81,000

$24,000

$72,000

$48,000