Question
A corporation, whose business was the rental of residential properties, owned a class 1 building with undepreciated capital cost (UCC) of $100,000. Rental revenue, including
A corporation, whose business was the rental of residential properties, owned a class 1 building with undepreciated capital cost (UCC) of $100,000. Rental revenue, including unearned rent deposits of $1,000, was $35,000. Total expenses, excluding capital cost allowance (CCA) and repairs, were $15,000. Replacing the shingle roof with a metal roof for $10,000 was the only repair. What would be the net rental income?
Question 5 options:
A)$4,400
B)$14,400
C)$14,800
D)$15,400
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Equity Asset Valuation
Authors: Jerald E. Pinto, Elaine Henry, Thomas R. Robinson, John D. Stowe, Abby Cohen
2nd Edition
470571439, 470571438, 9781118364123 , 978-0470571439
