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Question 5(25pts) Denard is a Canadian public company with a December 31 taxation...

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Accounting

Question 5(25pts)
Denard is a Canadian public company with a December 31 taxation year-end. It is the policy of Denard Ltd. to claim maximum CCA for all classes of depreciable property. On January 1,2023 Denard had a nil balance in Class
14.1.In 2023 Denard expands its business by purchasing the business of a competitor. The cost of the business includes a navment for nondwill in the amnnt of $145 nn In additinn nenard alen arnu lires an
Required Determine the income tax consequences for the 20232024 taxation years.
Your answer should include the Class 14.1 UCC balance as of January 1,2025.
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