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What is the amount of the adjustments

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Problem 1: The asset had a net book value in the accounting records of $112,000. It was not the last asset in Class 8 and, prior to the disposition, the UCC balance for Class 8 was $96,000. What is the amount of the adjustments that will be required in the conversion of the corporation's accounting Net Income to Net Income For Tax Purposes?

Option 1: A deduction of $28,000, an addition of $5,000, and an addition of $34,000.

Option 2: An addition of $44,000.

Option 3: An addition of $5,000 and an addition of $34,000.

Option 4: A deduction of $28,000 and an addition of $5,000.

Reference no: EM132613997

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