(pub) Du bede Problem #3 (4 Marks) You want to buy a large new house while still owning your current residence. On April 1, 2021, you move out of your house into the new one you just purchased. Since you don't want the old residence to sit vacant, you immediately start bony renting it out for passive income. Below are the specifics: Cost of Old Residence Hou-qeaning Wet Cost of New Residence QUA gusi FMV of Old Residence FMV of Old Residence Opez FMV of Old Residence Gross Rental Income Operating Costs for Rental $200,000 $600,000 $300,000 on Jan 1, 2021 $305,000 on Apr 1, 2021 $302,000 on Dec 31, 2021 $13,500 $10,000 (excludes CCA) th you-qsane REQUIRED: re Determine the tax consequences in 2021 (including the Net Rental Income). Assume the taxpayer wishes to maximize CCA. No principal residence exemption or elections used by taxpayer.