The Nelson Company has a taxation year end of December $31.$ On January $1$ of the current year, the UCC of Class $8$ was $$80,000.$ The Nelson Company has a policy of always deducting maximum CCA. Each of the following questions deals with transactions during the current year which involved Class $8$ property. Choose the best answer for each question.

The last property in the class, with a capital cost of $$85,000,$ was sold on July $15,2023$ for $$90,000.$ In $2023$ this would give rise to:

$$5,000$ Taxable Capital Gain

$$10,000$ Recapture

$$10,000$ Taxable Capital Gain

$$5,000$ Recapture

$$5,000$ Allowable Capital Loss

$$10,000$ Allowable Capital Loss

$$5,000$ Terminal Loss

$$10,000$ Terminal Loss