In: Accounting
Opening UCC balances
Class 1 $330,000
Class 8 $56,000
Class 10.1 $21,000
Class 13 $45,000
Class 50 $260,000
The company purchased furniture on August 1, 2020 for $44,914.
On the same date, the company sold furniture, which had been originally purchased for $22,031, for $15,364.
Calculate the maximum impact on business income for the year from furniture and other miscellaneous tangible capital assets.