Question
A company owns several office buildings belonging to CCA class 3. The January 1, 2020 UCC balance of CCA class 3 was $860,000. During 2020,
A company owns several office buildings belonging to CCA class 3. The January 1, 2020 UCC balance of CCA class 3 was $860,000. During 2020, one of the buildings in this class was sold for proceeds of $1,255,000. The building had a capital cost of $925,000.
Which of the following answers corresponds to the maximum CCA allowed for the company's Class 3 for the year 2020?
| $0 | ||
| $67,750 | ||
| $43,000 | ||
| $19,875 | ||
| $19,750 | ||
| $2,600 | ||
| $3,250 | ||
| None of the choices shown. |
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Auditing Concepts And Methods
Authors: McGraw-Hill
1st Edition
0074701266, 978-0074701263
