TAX $202-$ LO $1$ and $2$

#$1)(12$ MARKS$)$ XYZ Retailers has a December $31$ fiscal year end. See below for details relating to their long$-$

term assets:

During the year, you incurred the following costs:

The lease has $5$ years remaining plus an option to renew for another $5$ years.

During the year, you sold the following assets:

$**$ No assets left in pool.

REQUIRED:

Determine the maximum CCA that can be claimed $($along with any other tax impacts such as

capital gains$/$loss$,$ terminal loss, recapture, etc$).$ For simplicity, ignore all Excise Taxes.