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Fluent Ltd. has determined that, for the current year, it has Taxable Income before the deduction of CCA of $40,000. It is the policy of the Company to limit CCA deductions to an amount that would reduce Taxable Income to nil. At the end of the year, before the deduction of CCA, the following UCC balances are present:
Class 1 (Buildings Acquired In 2005) $475,000
Class 8 95,000
Class 10 102,000
Class 10. 1 26,000
There have been no additions to or dispositions from these classes during the year. Which class(es) should be charged for the $40,000 of CCA that will be required to reduce Taxable Income to nil? Explain your conclusion.
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