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Bridgeport Corp . purchased depreciable assets costing $ 2 4 , 0 0 0 on January 2 , 2 0 2 3 . For tax
BridgeportCorp purchased depreciable assets costing $on January For tax purposes, the company uses CCA in a class that has a rate. For financial reporting purposes, the company uses straightline depreciation over five years. The enacted tax rate is for all years. This depreciation difference is the only reversing difference the company has.aCalculate the amount of capital cost allowance and depreciation expense from to as well as the corresponding balances for the carrying amount and undepreciated capital cost of the depreciable assets at the end of each of the years to Assume that these assets are considered eligible equipment for purposes of the Accelerated Investment Incentive under the AII, instead of using the halfyear rule, companies are allowed a firstyear deduction using times the standard CCA rateEnter negative amounts using either a negative sign preceding the number eg or parentheses eg Round answers to decimal places, eg
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