Question 1 An individual acquires a rental property at a cost of $120,000 (ignore land cost).lt is rented for $1,200 per month and has a $90,000, 9% interest on mortgage. Condo fees are $150 per month and property taxes are $3,000 per year. a) What is the CCA that can be deducted on the property in 2018? b) What is the Net Rental Income? c)At the end of the year the property (building & land) was sold for $250,000, the value of land (..). at $50,000. What are the consequences to Mark's net Income for tax Purposes (Individual and Business Income Inclusion)