Question
A company owns several office buildings belonging to CCA class 3.The January 1, 2020 UCC balance of CCA class 3 was $495,000. During 2020, one
A company owns several office buildings belonging to CCA class 3.The January 1, 2020 UCC balance of CCA class 3 was $495,000. During 2020, one of the buildings in this class was sold for proceeds of $980,000.The building had a capital cost of $575,000.
Which of the following answers BELOW corresponds to the maximum CCA allowed for the company's Class 3 for the year 2020? if the answer is none of the choices shown, then show correct answer with calculation/explaination
24750
10375
55125
3200
4000
none of the choices shown
0
24250
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Using Microsoft Excel and Access 2016 for Accounting
Authors: Glenn Owen
5th edition
1337109048, 1337109045, 1337342149, 9781337342148 , 978-1337109048
