In August 2002, a firm purchased a bulldozer $40,000. It was subsequently sold in January 2005 for $28,000. Assume that the firm has a December 31 year end, the firm is in a 40% tax bracket, the CCA rate for the equipment is 30% and that there were no other assets in the class. CCA was claimed for 5 years.

How much CCA was claimed in 2003?

One of three questions on this topic.

A 12,000

B 34,000

C 10,200

D 7,140