Use the following information to answer the questions below. The Nelson Company has a taxation year end

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Use the following information to answer the questions below.

The Nelson Company has a taxation year end of December 31. On January 1 of the current year, the UCC of Class 8 was $80,000. The Nelson Company has a policy of always deducting maximum CCA. Each of the following questions deals with transactions during the current year which involved Class 8 property. Choose the best answer for each question.

A class 8 property with a capital cost of $15,000 was sold for $26,000 on September 1, 2022. Maximum CCA for Class 8 is:

a. $52000

b. $13000

c. $72000

d. $4000

Posted Date: May 17, 2024 09:11 PM

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Use the following information to answer the questions below. The Nelson Company has a taxation year end

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