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THE NEXT FOUR $(4)$ QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:

On January $1,$ six years ago, Mick Goldberg invested in an apartment project in Prince George, BC on an all$-$equity basis with no debt financing. The property cost $$1,700,000$ with the following apportionment:

Land $$350,000$

Structure $$1,000,000$

Furniture & Appliances $$300,000$

Paving & Sidewalks $$50,000$

On January $1,$ this year, Goldberg sold the investment for $$2,750,000$ with the following apportionment at the time of sale:

Land $$1,000,000$

Structure $$1,660,000$

Furniture & Appliances $$50,000$

Paving & Sidewalks $$40,000$

During the six$-$year holding period he claimed the maximum CCA available, i$.$e$.,$ his CCA claim was not restricted by low income levels. Assume that Goldberg is in a $50\%$ tax bracket, the price appreciation is treated as a capital gain $($only one$-$half taxable$),$ and Goldberg has no capital gains exemption available. The applicable CCA rates are as follows: Structure $($Class $1)$ is $4\%,$ furniture and appliances $($Class $8)$ is $20\%$ and parking areas, roads, and sidewalks $($Class $17$ assets$)$ is $8\%.$

$11.$ What is the taxable capital gain on the land and structure?

$(1)$ Land $$325,000$; Structure $$330,000$

$(2)$ Land $$300,000$; Structure $$305,000$

$(3)$ Land $$650,000$; Structure $$660,000$

$(4)$ Land $$600,000$; Structure $$0$

$12.$ What is the undepreciated capital cost for the structure, furniture and appliances, and paving and sidewalks, respectively, as at January $1,$ this year?

$(1)$ $$749,124$; $$92,160$; $$34,387$

$(2)$ $$776,730$; $$83,728$; $$32,573$

$(3)$ $$719,159$; $$73,728$; $$31,636$

$(4)$ $$799,065$; $$88,474$; $$31,636$

$13.$ What is the CCA recapture for the structure and paving$/$sidewalks$?$

$(1)$ $$180,841$; $$8,364$

$(2)$ $$221,007$; $$5,613$

$(3)$ $$200,935$; $$8,364$

$(4)$ $$176,343$; $$7,260$

$14.$ What is the total reversion income tax payable? $($Include taxable gains, CCA recapture, and

terminal losses.$)$

$(1)$ $$556,572$

$(2)$ $$412,913$

$(3)$ $$825,825$

$(4)$ $$385,239$

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