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An asset was purchased for $89,248. The CCA rate for this asset was 30%. The effective tax rate was 40%. Assume books are closed and
An asset was purchased for $89,248. The CCA rate for this asset was 30%. The effective tax rate was 40%. Assume books are closed and any tax credit for capital loss can be claimed and refunded at disposal time. Find the disposal tax effect for the asset if sold after 5 years for the following prices: a] $110,000 b] $30,000 c] $15,000 d] $10,000
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