Problem 5-2 [Cont] (4) Other income includes: Gain on disposal of an indefinite life licence (proceeds of $44,000; purchased in 2005 for $20,000} Gain on disposal of truck [proceeds of $10,000; net book value of $32500) Interest income 3,000 Dividends from taxable Canadian corporations ............................. 1,500 Vlm rebates 2,000 (5) The truck sold during the year had an original cost of $15,000. A replacement truck was purchased in the year at a cost of $20,000. (6) The corporation has operated from leased premises since 2014 when it spent $30,000 on infrastructure during the first year of a ve-year lease with two three-year renewal options. During 2016, improvements were made to the premises at a cost of $6,000. (7") In 2005, the corporation purchased goodwill for $36,000 and an indenite-term licence (described in (4), above) for $20,000. The balance in the EEC account on January 1, 2016, was $18,904. The 2015 T2 Schedule 8 prepared by the corporation indicates that at December 31, 2015, the corporation had the following undepreciated capital cost balances: Ofce equipment $43,000 Leasehold nnprovements 24,375 The bonus remained unpaid on May 15, 201? when the 2016 corporate tax return was being prepared