The fiscal year of Chen Ltd., a Canadian public company, ends on December 31. On January 1, 2019, the UCC balances for the various classes of assets owned by the Company are as follows:

Class	Asset	UCC @ January 1, 2019
Class 1 (4%)	Building	300,000
Class 8	Office furniture and equipment	80,000
Class 8 (separate)	Photocopier	22,000
Class 10	Vehicles	125,000
Class 10.1	Passenger vehicles over $30,000- None	0
Class 12	Tools (Under $500 each)	7,000
Class 13	Leasehold improvements	52,500
Class 14	Intangible assets with limited life- none	0
Class 50	Computer hardware	20,000
Class 53	Manufacturing equipment	70,000

The following additions were made this year:

1. On September 15, 2019, a convertible is acquired at a cost of $70,000 for use by the Vice President of the Company as a passenger vehicle.
2. Some new furniture was purchased at a cost of $17,000.
3. On May 1, 2019, Chen Ltd. pays $150,000 to enter a franchise agreement. The life of the franchise is 15 years.
4. On November 3, 2019, $175,000 of class 53 manufacturing equipment was purchased.
5. On January 1, 2019, $35,000 of leasehold improvements were made.
6. New computer hardware was purchased for $15,000.

The following disposals were made this year:

1. The photocopier in the separate class 8 was disposed of for $5,000. It was originally purchased for $30,000.
2. Some old furniture was sold for proceeds of $8,000. It was originally purchased for $10,000.
3. Some computer hardware was sold for $5,000. It was originally purchased on sale for $3,000.
4. Some tools (from class 12) were sold for total proceeds of $10,000. The original cost of these tools was $12,000.

Other notes & information:

1. The Company leases a building for $15,000 per year that houses a portion of its manufacturing operations. The lease was negotiated on January 1, 2014 and has an original term of 10 years. There are three renewal options on the lease. The term for each of these options is two years. The company made $84,000 of leasehold improvements immediately after signing the lease. No further improvements were made until the current year.
2. It is the policy of the Company to deduct maximum CCA in all years.

Required: calculate the maximum 2019 CCA that can be taken on each class of assets, the January 1, 2020 UCC balance for each class, and any other 2019 inclusions or deductions resulting from the information provided in the problem. Respond on the excel response sheet. Final answers should be filled in the yellow boxes in the answer summary and the effect on net income summary in the excel document on the problem 4 tab. You are required to show any additional work completed in the green space on the problem 4 tab in the excel document.

Put all of your final answers in the answer summary in the yellow boxes and show all your work to get to these answers in the green space below. Answer summary- enter your final answers in here in the yellow boxes: 1 8 8 Separate 10 10.1 12 13 14 50 53 Class CCA Taken (enter as positive number) January 1, 2020 UCC Effect on net income summary-enter your answers in the yellow boxes: (Write zero beside any option where there is no effect. Enter deductions as a negative and income inclusions as a positive) 0.00 Formulized- taken from chart above Total CCA taken Terminal loss Recapture Taxable capital gain Allowable capital loss Total Net income increase (decrease) 0.00 Formulized (sum of above) Put all of your final answers in the answer summary in the yellow boxes and show all your work to get to these answers in the green space below. Answer summary- enter your final answers in here in the yellow boxes: 1 8 8 Separate 10 10.1 12 13 14 50 53 Class CCA Taken (enter as positive number) January 1, 2020 UCC Effect on net income summary-enter your answers in the yellow boxes: (Write zero beside any option where there is no effect. Enter deductions as a negative and income inclusions as a positive) 0.00 Formulized- taken from chart above Total CCA taken Terminal loss Recapture Taxable capital gain Allowable capital loss Total Net income increase (decrease) 0.00 Formulized (sum of above)