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Hi please gelp me with the explanation of calculation please ! asap this is the whole question statement A procesetorship has a calendar fiscal year
Hi please gelp me with the explanation of calculation please ! asap
this is the whole question statement
A procesetorship has a calendar fiscal year and acquires a machine on April 1, 2020 The machine has a cost of $58,000. The proprietor pays a contractor $24,000 to install the machine and pays a non-refundable provincial sales tax of $7,500 The machinery is Class 8 equipment with a CCA rate of 20% Assuming that the opening UCC for Class 8 assets is 50, what is the maximum CCA that can be deducted for this machine in fiscal year 2020? Choose the correct answer OA $24,600 OB $8,050 OC. $17,000 D. $26.850 KIED Step by Step Solution
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