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A company has a January 1, 2020 balance for CCA class 53 of $1,546,000. During 2020, the company acquired additional Class 53 assets for a
A company has a January 1, 2020 balance for CCA class 53 of $1,546,000. During 2020, the company acquired additional Class 53 assets for a total cost of $750,000. Also, one of the several Class 53 assets was sold during the year for proceeds of $75,000. It had a cost of $160,000.
Which of the following answers corresponds to the maximum CCA allowed for the company's Class 53 for the year 2020?
$1,279,250 | ||
$1,438,000 | ||
$773,000 | ||
None of the choices shown. | ||
$1,523,000 | ||
$1,448,000 | ||
$1,485,500 | ||
$1,298,000 |
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