Suppose your firm is considering buying a van costing $95,000. What is the Undepreciated capital cost (UCC) for the van after Five years. Note: the van falls in class 10 with a 30 percent CCA rate. Use the tabular approach when calculating the UCC after Five years. a) Calculate the UCC at the end of year 5 b) If the Van is sold at $4500 at the end of 5 years, what is the tax implication? what name is assigned to this tax implication? c) If the Van is sold at $55,000 at the end of 5 years, what is the tax implication? what name is assigned to this tax implication?

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.