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A unincorporated sole proprietorship has a calendar fiscal year and acquires a machine on April 1, 2020. The machine has a cost of $61,112. The
A unincorporated sole proprietorship has a calendar fiscal year and acquires a machine on April 1, 2020. The machine has a cost of $61,112. The proprietor pays a contractor $18.431 to install the machine and plus a non-refundable provincial sales tax of $9,090. The machinery is a Class 8 asset Assuming that the opening UCC for Class B assets is 50, what is the maximum CCA that can be deducted for this machine in fiscal year 2020?
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
