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In October of $2019$ Solea Company purchased a zero$-$emission automobile for $$70,000.$ The vehicle will be used exclusively in the company business. The Company uses a calendar$-$based taxation year ending December $31.$ On January $1,2022$ the Class $54$ UCC balance was Nil as the Company always claims maximum CCA. On August $1,2022$ the vehicle is sold for $$17,000.$ There are no other properties in the class at December $31,2022.$ What are the income tax consequences of the sale of the vehicle?

a$.$No income tax consequences

b$.$Recapture of $$12,357$

c$.$Recapture of $$16,000$

d$.$Capital Gain of $$17,000$

$2.$ 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.

A class $8$ property with a capital cost of $$15,000$ was sold for $$26,000$ on September $1,2022.$ Maximum CCA for Class $8$ is:a$.$$$4,000$

b$.$$$25,000$

c$.$$$10,000$

d$.$$$43,200$

e$.$$$91,000$

f$.$$$13,000$

g$.$$$32,000$

h$.$$$72,000$

i$.$$$22,000$

j$.$$$52,000$

k$.$$$67,000$

l$.$$$98,000$

m$.$$$10,800$

n$.$$$20,000$

o$.$$$76,000$

p$.$$$60,800$

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