Seven Stars Limited is a Canadian-controlled private corporation, printing newspapers. The company began operating on May 1, 2020. It has chosen a December 31, year-end. The company purchased the following assets:

Land and Building to be used for manufacturing - built after March 18, 2007 ($548,000 with $248,000 allocated to land) $300,000 Printing presses - $120,000 Office furniture and equipment - $40,000

In addition to this, you as the accountant noted the following facts:

Legal fees paid to set up the company were $23,000. A new passenger vehicle costing $60,000 was purchased in November 2020. Seven Stars Limited paid $45,000 for production of a TV commercial.

REQUIRED: Calculate Seven Stars Limited maximum capital cost allowance for 2020. Show all of your calculations