The fiscal year of the Amesbury Manufacturing Company, a Canadian public company, ends on December 31. On January 1, 2021, the UCC balances for the various classes of assets owned by the company are as follows. Class 1-Building (Round your answers to the nearest dollar.) There were no additions or dispositions in this class. As a consequence, the maximum 2021 CCA would be $ for an enhanced CCA rate since it was not purchased new. The January 1, 2022 UCC of class 1 would be $ The building was acquired after March 18, 2007, so it would have been eligible Class 8-Office Furniture and Equipment (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $. The January 1, 2022 UCC balance for class 8 would be s . The sale of the furniture and equipment would result in a taxable gain of s| Class 10Vehicles (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $(. The January 1, 2022 UCC balance for class 10 would be s[ Class 12Tools (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $ . The January 1, 2022 UCC balance for class 12 would be s[ Class 13Leasehold Improvements (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $. The January 1, 2022 UCC balance for class 13 would be $ Class 14-Intangible Property (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $. The January 1, 2022 UCC balance for class 14 would be $ The taxable capital gain on intangible property for 2021 is $ Class 50Computer Hardware (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $. The January 1, 2022 UCC balance for class 50 would be s[ The fiscal year of the Amesbury Manufacturing Company, a Canadian public company, ends on December 31. On January 1, 2021, the UCC balances for the various classes of assets owned by the company are as follows (Round your answers Wue nearesi uunal.) The maximum 2021 CCA would be $ The January 1, 2022 UCC balance for class 10 would be $ Class 12 Tools (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $(). The January 1, 2022 UCC balance for class 12 would be $[ Class 13-Leasehold Improvements (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $ The January 1, 2022 UCC balance for class 13 would be $ Class 14-Intangible Property (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $(). The January 1, 2022 UCC balance for class 14 would be $. The taxable capital gain on intangible property for 2021 is $[ Class 50Computer Hardware (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $(). The January 1, 2022 UCC balance for class 50 would be $[ Class 53Manufacturing Equipment (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $ The January 1, 2022 UCC balance for class 53 would be $ Other Income Effects (Round your answers to the nearest dollar. Taxable capital gain on class 8 property Taxable capital gain on class 14.1 property Terminal loss on class 53 property Total net impact on 2021 net income Dalances Required Additional information Calculate the maximum 2021 CCA that can be taken on each class of property, the January 1, 2022, UCC balance for each class, and any other 2021 income tax consequences from the information provided in the problem. Class 1-Building (Note 1) $ 624,700 Class 8Office Furniture and Equipment 154,500 Class 10Vehicles 118,100 Class 13-Leasehold Improvements 61,000 Class 14.1 Nil Class 53Manufacturing Equipment 217,100 Note 1 The Class 1 building was acquired, used, in 2009 Print Done 1. The company leases a building for $27,200 per year that houses a portion of its manufacturing operations. The lease was negotiated on January 1, 2018 and has an original lease term of eight years. There are two renewal options on the lease, each for four years. The company made $78,100 of leasehold improvements in 2018 immediately after signing the lease. No further leasehold improvements were made until the current year. 2. On February 24, 2021, one of the company's cars was totally destroyed in an accident. At the time of the accident, the fair market value of the car was $12,700. The proceeds from the company's insurance policy amounted to only $8,400. The capital cost of the car was $16,700. 3. During March 2021, the company granted a manufacturing licence for one of its products to a company in southern Ontario. This licensee paid $87,400 for the right to manufacture this product for an unlimited period of time. 4. It is the policy of the company to claim maximum CCA in all years. Purchases Dispositions During the year ending December 31, 2021, the following purchases of depreciable property were made. During this same period, the following dispositions occurred. Class 8 Used office furniture and equipment was sold for cash proceeds in the amount of $35,200. The capital cost of property was $22,100. Class 10 A delivery truck with a capital cost of $22,600 was sold for $8,900. Class 53 Since the manufacturing operations will be done by subcontractors in the future, all of the manufacturing equipment was sold for $189,000. Its capital cost was $752,300. Print Done Class 8Office Furniture and Equipment $ 27,500 Class 10Vehicles (Note 2) 33,300 Class 12Tools (Note 3) 34,100 Class 13Leasehold Improvements 44,900 Class 50Computer Hardware 27,800 Note 2 The purchased vehicle was a delivery truck. Note 3 None of the tools that were acquired during the year cost more than $500. Print Done The fiscal year of the Amesbury Manufacturing Company, a Canadian public company, ends on December 31. On January 1, 2021, the UCC balances for the various classes of assets owned by the company are as follows. Class 1-Building (Round your answers to the nearest dollar.) There were no additions or dispositions in this class. As a consequence, the maximum 2021 CCA would be $ for an enhanced CCA rate since it was not purchased new. The January 1, 2022 UCC of class 1 would be $ The building was acquired after March 18, 2007, so it would have been eligible Class 8-Office Furniture and Equipment (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $. The January 1, 2022 UCC balance for class 8 would be s . The sale of the furniture and equipment would result in a taxable gain of s| Class 10Vehicles (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $(. The January 1, 2022 UCC balance for class 10 would be s[ Class 12Tools (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $ . The January 1, 2022 UCC balance for class 12 would be s[ Class 13Leasehold Improvements (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $. The January 1, 2022 UCC balance for class 13 would be $ Class 14-Intangible Property (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $. The January 1, 2022 UCC balance for class 14 would be $ The taxable capital gain on intangible property for 2021 is $ Class 50Computer Hardware (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $. The January 1, 2022 UCC balance for class 50 would be s[ The fiscal year of the Amesbury Manufacturing Company, a Canadian public company, ends on December 31. On January 1, 2021, the UCC balances for the various classes of assets owned by the company are as follows (Round your answers Wue nearesi uunal.) The maximum 2021 CCA would be $ The January 1, 2022 UCC balance for class 10 would be $ Class 12 Tools (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $(). The January 1, 2022 UCC balance for class 12 would be $[ Class 13-Leasehold Improvements (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $ The January 1, 2022 UCC balance for class 13 would be $ Class 14-Intangible Property (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $(). The January 1, 2022 UCC balance for class 14 would be $. The taxable capital gain on intangible property for 2021 is $[ Class 50Computer Hardware (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $(). The January 1, 2022 UCC balance for class 50 would be $[ Class 53Manufacturing Equipment (Round your answers to the nearest dollar.) The maximum 2021 CCA would be $ The January 1, 2022 UCC balance for class 53 would be $ Other Income Effects (Round your answers to the nearest dollar. Taxable capital gain on class 8 property Taxable capital gain on class 14.1 property Terminal loss on class 53 property Total net impact on 2021 net income Dalances Required Additional information Calculate the maximum 2021 CCA that can be taken on each class of property, the January 1, 2022, UCC balance for each class, and any other 2021 income tax consequences from the information provided in the problem. Class 1-Building (Note 1) $ 624,700 Class 8Office Furniture and Equipment 154,500 Class 10Vehicles 118,100 Class 13-Leasehold Improvements 61,000 Class 14.1 Nil Class 53Manufacturing Equipment 217,100 Note 1 The Class 1 building was acquired, used, in 2009 Print Done 1. The company leases a building for $27,200 per year that houses a portion of its manufacturing operations. The lease was negotiated on January 1, 2018 and has an original lease term of eight years. There are two renewal options on the lease, each for four years. The company made $78,100 of leasehold improvements in 2018 immediately after signing the lease. No further leasehold improvements were made until the current year. 2. On February 24, 2021, one of the company's cars was totally destroyed in an accident. At the time of the accident, the fair market value of the car was $12,700. The proceeds from the company's insurance policy amounted to only $8,400. The capital cost of the car was $16,700. 3. During March 2021, the company granted a manufacturing licence for one of its products to a company in southern Ontario. This licensee paid $87,400 for the right to manufacture this product for an unlimited period of time. 4. It is the policy of the company to claim maximum CCA in all years. Purchases Dispositions During the year ending December 31, 2021, the following purchases of depreciable property were made. During this same period, the following dispositions occurred. Class 8 Used office furniture and equipment was sold for cash proceeds in the amount of $35,200. The capital cost of property was $22,100. Class 10 A delivery truck with a capital cost of $22,600 was sold for $8,900. Class 53 Since the manufacturing operations will be done by subcontractors in the future, all of the manufacturing equipment was sold for $189,000. Its capital cost was $752,300. Print Done Class 8Office Furniture and Equipment $ 27,500 Class 10Vehicles (Note 2) 33,300 Class 12Tools (Note 3) 34,100 Class 13Leasehold Improvements 44,900 Class 50Computer Hardware 27,800 Note 2 The purchased vehicle was a delivery truck. Note 3 None of the tools that were acquired during the year cost more than $500. Print Done