A corporation started a coffee shop business on the first day of its 2019 taxation year. The assets included a 10-year franchise agreement for $20,000 and paid for leasehold improvements of $15,000 on a 3-year lease with no renewal. What would be the maximum capital cost allowance (CCA) claim for the 2019 taxation year? Multiple Choice $7,500 $10.500 $5.000 $7,000 What would be the treatment of a terminal loss realized on the sale of an asset to an affiliated person? Multiple Choice The loss would be denied to the seller The seller would continue to claim normal capital cost allowance (CCA) on the amount of the denied loss When the atheted person disposed of the asset to a third party the seller would claim a terminal loss, The loss would be added to the cost of the asset to the affiliated person The loss would be treated as a capital loss and only 50% would be deductible against capital gains The loss would be permanently denied due to the attempt to obtain a tax advantage Which of the following is true concerning dividends? Multiple Choice Dividends received from a CCPC's business income that is subject to the small business deduction are typically grossed-up to include 138% of the dividend Eligible dividends require a 115% gross-up Dividends received from a CCPC's business income that is not subject to the small business deduction are typically grossed up to include 115% of the dividend The system to eliminate double taxation assumes that the corporate tax rate is 275% when eligible dividends are grossed-up to include 138% of the dividend