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During 2020, Pearl Limited sold its only Class 3 asset. At the time of sale, the balance of the undepreciated capital cost for this class
During 2020, Pearl Limited sold its only Class 3 asset. At the time of sale, the balance of the undepreciated capital cost for this class was $37,700. The asset originally cost $129,200. (a) Calculate recaptured CCA, capital gains, and terminal losses, if any, assuming the asset was sold for proceeds of (1) $132,200, (2) $50,400, and (3) $22,800. (1) $132,200 (2) $50,400 (3) $22,800 Capital gain $ $ Recaptured CCA $ $ Terminal loss $ $ $
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