please include explanations if possible

une lents Please dlalt of a letter to Sylvia explaining the income tax implications of the disposition of the van. Problem 8 On May 1, 2021, Jennifer Lobo incorporated Lobo Enterprises Inc. (LEI) as a CCPC with a December 31 year end. The corporation purchased the licence to manufacture the boardgame and app version of the latest gameshow, "Tax is a Microcosm of Life". LEI acquired the following assets: ITA: 13(1), 13(2), 20(1)(a), 20(16.1); I 1100(1), 1100(2.5), (3), 1101(5p), 1103 7307(1) (b); Sch. II, Manufacturing building $500,000 Manufacturing equipment 20,000 Tools (each costing under $500) 16,000 Dies and moulds 8,000 Computer equipment and systems software 12,000 Photocopier.. 6,000 Office furnishings 15,000 Customer lists (expected to be used indefinitely) 4,000 Delivery van 28,000 Design software. 22,000 TV commercial video tape 22,000 Chairs and tables (for the employee eating area) 2,500 Automobile (for use by sales manager) 38,000 Licence to manufacture, based on patented information, "Tax is a Microcosm of Life" for three years ending February 28, 2024. 30,000 Made improvements on the office building that LEI leased on March 1, 2021; the lease was for three years with two successive options to renew of three years and four years 9,000 Introduction to Federal Income Taxa- 130 During 2022, LEI made the following disposals: Sold the photocopier Sold the automobile Sold the design software Sold some of the tools (costing less than $500 each). (4,000) (23,000) (18,000) (5,000) > A) You have been asked to prepare a schedule to show the maximum capital cost allowance for the fiscal years ended December 31, 2021 and December 31, 2022, ignoring HST considerations. For file documentation, where choices are available, state the reasons for your decision. Ignore the effects, if any, of a leap year. B) Assume that LEI is instead operated as a proprietorship. Prepare a schedule to show the maximum capital cost allowance for the fiscal years ended December 31, 2021 and December 31, 2022, ignoring HST considerations. For file documentation, where choices are available, state the reasons for your decision. Ignore the effects, if any, of a leap year. A Problem 9 ITA. Momono une lents Please dlalt of a letter to Sylvia explaining the income tax implications of the disposition of the van. Problem 8 On May 1, 2021, Jennifer Lobo incorporated Lobo Enterprises Inc. (LEI) as a CCPC with a December 31 year end. The corporation purchased the licence to manufacture the boardgame and app version of the latest gameshow, "Tax is a Microcosm of Life". LEI acquired the following assets: ITA: 13(1), 13(2), 20(1)(a), 20(16.1); I 1100(1), 1100(2.5), (3), 1101(5p), 1103 7307(1) (b); Sch. II, Manufacturing building $500,000 Manufacturing equipment 20,000 Tools (each costing under $500) 16,000 Dies and moulds 8,000 Computer equipment and systems software 12,000 Photocopier.. 6,000 Office furnishings 15,000 Customer lists (expected to be used indefinitely) 4,000 Delivery van 28,000 Design software. 22,000 TV commercial video tape 22,000 Chairs and tables (for the employee eating area) 2,500 Automobile (for use by sales manager) 38,000 Licence to manufacture, based on patented information, "Tax is a Microcosm of Life" for three years ending February 28, 2024. 30,000 Made improvements on the office building that LEI leased on March 1, 2021; the lease was for three years with two successive options to renew of three years and four years 9,000 Introduction to Federal Income Taxa- 130 During 2022, LEI made the following disposals: Sold the photocopier Sold the automobile Sold the design software Sold some of the tools (costing less than $500 each). (4,000) (23,000) (18,000) (5,000) > A) You have been asked to prepare a schedule to show the maximum capital cost allowance for the fiscal years ended December 31, 2021 and December 31, 2022, ignoring HST considerations. For file documentation, where choices are available, state the reasons for your decision. Ignore the effects, if any, of a leap year. B) Assume that LEI is instead operated as a proprietorship. Prepare a schedule to show the maximum capital cost allowance for the fiscal years ended December 31, 2021 and December 31, 2022, ignoring HST considerations. For file documentation, where choices are available, state the reasons for your decision. Ignore the effects, if any, of a leap year. A Problem 9 ITA. Momono