Buble Editing Acme Corporation has the following balances in its UCC classes at the beginning of the year: Class 8 (20%) Class 10.1 (30%) Class 13 (SL) Class 50 (55%) $12,000 11,500 609,375 190,000 Class 8 contained a single asset at the beginning of the year which was sold in November of the current year for total proceeds of $18,000. The asset had originally been purchased 5 years ago for $21,000 Class 10.1 contains a Lamborghini that was purchased 3 years ago for $128,000. This year, ACME purchased a Porsche (Class 10.1, 30%) for $160,000. Class 13 was set-up two years ago when improvements of $650,000 were made to a leased building. The improvements were made as soon as Acme signed the 35-year lease. Acme was also granted 2 renewal options of 10 years each when signing the original lease. This year, Acme made further improvements to the leased building at a cost of $40,000. In April of the current year, an asset belonging to class 50 was sold for $260,000. The asset had been purchased last year for $230,000. In June this year a new class 50 asset was purchased for a total price of $80,000 I Required: 1 - Calculate the maximum CCA that Acme Corporation can claim during the year as well as any terminal loss or recapture that arise from the above transactions. 2. Calculate any taxable capital gain or allowable capital loss that arises from the dispositions that occurred during the year. Buble Editing Acme Corporation has the following balances in its UCC classes at the beginning of the year: Class 8 (20%) Class 10.1 (30%) Class 13 (SL) Class 50 (55%) $12,000 11,500 609,375 190,000 Class 8 contained a single asset at the beginning of the year which was sold in November of the current year for total proceeds of $18,000. The asset had originally been purchased 5 years ago for $21,000 Class 10.1 contains a Lamborghini that was purchased 3 years ago for $128,000. This year, ACME purchased a Porsche (Class 10.1, 30%) for $160,000. Class 13 was set-up two years ago when improvements of $650,000 were made to a leased building. The improvements were made as soon as Acme signed the 35-year lease. Acme was also granted 2 renewal options of 10 years each when signing the original lease. This year, Acme made further improvements to the leased building at a cost of $40,000. In April of the current year, an asset belonging to class 50 was sold for $260,000. The asset had been purchased last year for $230,000. In June this year a new class 50 asset was purchased for a total price of $80,000 I Required: 1 - Calculate the maximum CCA that Acme Corporation can claim during the year as well as any terminal loss or recapture that arise from the above transactions. 2. Calculate any taxable capital gain or allowable capital loss that arises from the dispositions that occurred during the year