The Nelson Company has a taxation year end of December 31. On January 1, 2021, the UCC of Class 8 was $80,000. The Nelson Company has a policy of always deducting maximum CCA. A class 8 property with a capital cost of $15,000 was sold for $26,000 on September 1, 2021. Maximum CCA for Class 8 is (Class 8 has 20% CCA rate): choose the right answer
The Nelson Company has a taxation year end of December 31. On January 1, 2021, the UCC of Class 8 was $80,000. The Nelson Company has a policy of always deducting maximum CCA. A class 8 property with a capital cost of $15,000 was sold for $26,000 on September 1, 2021. Maximum CCA for Class 8 is (Class 8 has 20% CCA rate): choose the right answer
Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization
Section: Chapter Questions
Problem 44P
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Transcribed Image Text:The Nelson Company has a taxation year end of
December 31. On January 1, 2021, the UCC of
Class 8 was $80,000. The Nelson Company has
a policy of always deducting maximum CCA. A
class 8 property with a capital cost of $15,000
was sold for $26,000 on September 1, 2021.
Maximum CCA for Class 8 is (Class 8 has 20%
CCA rate): choose the right answer
$10,800
$32,000
$13,000
$21,200
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