Prometheus Ltd. specializes in plastics recycling and began operations in 2015. The following information is available for the fiscal years ended December 31, 2020 and 2021: 2020 2021 Net income (loss) before taxes $895,000 ($3,000,000) Fixed asset purchases 110,000 60,000 Depreciation expense 35,000 45,000 CCA 41,910 Fixed asset disposals (end of year) Proceeds 20,000 40,000 Net book value 8,000 32,000 Original cost of asset 15,000 50,000 Bond interest paid 55,000 55,000 Bond interest expense 60,327 60,674 Warranty expense 51,000 62,000 Warranty costs incurred 47,000 58,000 Dividends received from Canadian Corporation 3,000 Club dues 3,500 4,000 Meals and entertainment expenses 60,000 30,000 Income tax rate 35% 33% Other 2020 opening balances Undepreciated capital cost (UCC) 411,840 Property, Plant, & Equipment (PPE) Carrying Value (CV) 418,000 Warranty liability 20,000