Subject: Class $53$ Acquisitions

On January $1,2023,$ Arco Inc. had a class $53$ UCC balance of $$500,000.$ In $2023,$ property with a capital cost of $$100,000$ is added to the class. There are no dispositions in the year.

Determine the maximum class $53$ CCA for $2023,$ as well as the January $1,2024,$ UCC balance.