Question
2. Ms. Taylor Milden is provided with an automobile by her employer. The employer acquired the automobile in 2018 for $26000, including sales tax. During
2.Ms. Taylor Milden is provided with an automobile by her employer. The employer acquired the automobile in 2018 for $26000, including sales tax. During 2019, Ms. Milden drives the automobile for a total for 24500 kilometers, 9000 of which were related to employment duties. The automobile is available to Ms. Milden throughout the year. What is Ms. Milden's 2019operating cost benefitfor the use of this automobile?
Round to the nearest dollar.
3.Mr. Mark Farther is provided with a car that is leased by his employer. The monthly lease payments for 2019 are $590, including sales tax. During 2019, he drives the automobile a total of 26000 kilometers, of which 5500 are employment related. The automobile is available to him throughout the year. His employer paid a total of $5900 in operating costs. When he is not using the automobile, company policy requires that it be returned to their premises. Calculate Mr. Farther's 2019standby chargefor the use of this automobile.
Round to the nearest dollar.
4.Mr. Mark Farther is provided with a car that is leased by his employer. The monthly lease payments for 2019 are $510, including sales tax. During 2019, he drives the automobile a total of 26000 kilometers, of which 7000 are employment related. The automobile is available to him throughout the year. His employer paid a total of $8000 in operating costs. When he is not using the automobile, company policy requires that it be returned to their premises. Calculate Mr. Farther's 2019operating cost benefitfor the use of this automobile.
Round to the nearest dollar.
5.On November 1 of 2020, Chen Ltd. purchased a franchise for $59000. The franchise has a limited life of 10 years. What is the maximum amount of CCA Chen Ltd. can deduct for its 2020 year ended December 31?
Round to the nearest dollar.
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