Question
Instructions Opening UCC balances Class 1 NRB $340,000 Class 10 $23,000 Any other classes have an opening balance of nil. The company traded in a
| Instructions | Opening UCC balances Class 1 NRB $340,000 Class 10 $23,000 Any other classes have an opening balance of nil. |
|---|
The company traded in a truck to purchase a new truck on September 15, 2020. The list price of the new truck was $65,182. The trade-in was valued at $14,075. The old truck was originally purchased 3 years ago for $52,903.
Calculate the maximum impact on business income from vehicles. Ignore HST implications.
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Fundamentals of corporate finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
9th edition
978-0077459451, 77459458, 978-1259027628, 1259027627, 978-0073382395
