On June 30, 2020, Uncle Stans Enterprises Ltd. (USEL) sold a rental property that it had operated for many years. USEL has a December 31 year-end. You have been given the following background information. Land Building (Class 3) Original cost $125,000 $175,000 UCC, December 31, 2019 135,000 Proceeds, June 30, 2020 270,000 230,000 USEL received the following consideration in payment for the assets. Cash $200,000 Mortgage 300,000 The principal amount of the mortgage is amortized over 25 years and has a three-year term, starting July 1, 2020.The principal payments of $12,000 are made on January 1 each year, starting on January 1, 2021. At the end of the three-year term, the balance of the mortgage will be paid in full. Required: Calculate the minimum effect on income in year 2020 & 2021. (Hint: Capital Gain Reserve)