On January 1, 2020, Bard Ltd. has a balance in its Class 8 of $32,400. The only transaction involving Class 8 assets during 2020 was a disposition on July 12 of a group of Class 8 assets that had cost $62,300. The proceeds of disposition for these assets was $41,800. The Company's taxation year ends on December 31. What is the effect of the disposition on the Company's 2020 net business income? In addition, determine the January 1, 2021 UCC balance.

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The Answer of On January 1, 2020, Bard Ltd. has a balance in its Class 8 of $32,400. The only transaction involving Class 8 assets during 2020 was a disposition on July 12 of a group of Class 8 assets that had cost $62,300. The proceeds of disposition for these assets was $41,800. The Company's taxation year ends on December 31. What is the effect of the disposition on the Company's 2020 net business income? In addition, determine the January 1, 2021 UCC balance.