1 a) A farmer purchased a tractor 3 months ago for $125,000.00. This was before the end of the current fiscal year. Five years have now elapsed. Determine the CCA for years 1 through 5. (The CCA for this type of asset is 30%)

b) What is the dollar value of an asset at the end of year 7 if the asset originally cost $58,000.00. Is expected to have 10 years of lifespan and has a predetermined $4,000 salvage value.