Harrison Chen, an insurance salesperson, acquired a luxury antique sports car in 2020 for a capital cost of $42,000. The car will be used 40% of the time in performing his duties of employment. Compute Harrisons estimated CCA in his first and second year of owning the car (ignore HST). *

2 points

Estimated CCA is $5,400 in the first year and $1,980 in the second year

Estimated CCA is $13,500 in the first year and $4,950 in the second year

Estimated CCA is $16,500 in the first year and $11,550 in the second year

Estimated CCA is $30,000 in the first year and $16,500 in the second year