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the solutions manual that has been provided to your instructor Assignment Problem Five - 1 (CCA And Tax Planning) For its taxation year ending December 31, 2017, Martin's Enterprises has determined th Net Income For Tax Purposes before any deduction for CCA amounts to $53,000. Tho Company does not have any Division C deductions, so whatever amount is determined as N ncome For Tax Purposes will also be the amount of Taxable In come for the taxation year On January 1, 2017, the Company has the following UCC balances: Class 1 (Building Acquired in 2004) Class 8 Class 10 Class 10.1 (Porsche Cost $110,000) Class 10.1 (Cadillac - Cost $45,000) $876,000 220,000 95,000 25,500 25,500 During 2017, the cost of additions to Class 10 amounted to $122,000, while the proceeds from dispositions in this class totaled s87,000. The capital cost of the assets retired totaled $118,000. None of the individual assets sold had proceeds of disposition that exceeded their individual capital cost. There were still assets in Class 10 on December 31, 2017 There were no acquisitions or dispositions in Class 1, 8 or 10.1 during 2017. The Company plans to sell the Porsche in January, 2018 and expects to receive about $75,000. During the preceding three taxation years, the Company reported Taxable Income totalling $39,000 for the three years Required: A. Calculate the maximum CCA that could be taken by Martin's Enterprises for the taxatio year ending December 31, 2017. Your answer should include the deducted for each CCA class. maximum that can be B. As Martin's Enterprises' tax advisor, indicate how much CCA you would Company to take for the 2017 taxation year, and the specific classes from which its the solutions manual that has been provided to your instructor Assignment Problem Five - 1 (CCA And Tax Planning) For its taxation year ending December 31, 2017, Martin's Enterprises has determined th Net Income For Tax Purposes before any deduction for CCA amounts to $53,000. Tho Company does not have any Division C deductions, so whatever amount is determined as N ncome For Tax Purposes will also be the amount of Taxable In come for the taxation year On January 1, 2017, the Company has the following UCC balances: Class 1 (Building Acquired in 2004) Class 8 Class 10 Class 10.1 (Porsche Cost $110,000) Class 10.1 (Cadillac - Cost $45,000) $876,000 220,000 95,000 25,500 25,500 During 2017, the cost of additions to Class 10 amounted to $122,000, while the proceeds from dispositions in this class totaled s87,000. The capital cost of the assets retired totaled $118,000. None of the individual assets sold had proceeds of disposition that exceeded their individual capital cost. There were still assets in Class 10 on December 31, 2017 There were no acquisitions or dispositions in Class 1, 8 or 10.1 during 2017. The Company plans to sell the Porsche in January, 2018 and expects to receive about $75,000. During the preceding three taxation years, the Company reported Taxable Income totalling $39,000 for the three years Required: A. Calculate the maximum CCA that could be taken by Martin's Enterprises for the taxatio year ending December 31, 2017. Your answer should include the deducted for each CCA class. maximum that can be B. As Martin's Enterprises' tax advisor, indicate how much CCA you would Company to take for the 2017 taxation year, and the specific classes from which its