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Jack Pott transferred depreciable property to his daughter. The property had a FMV of $225,000, a capital cost (ACB) of $175,000, and a UCC of
Jack Pott transferred depreciable property to his daughter. The property had a FMV of $225,000, a capital cost (ACB) of $175,000, and a UCC of $110,000. It is the only property in its class. In return for the property, Jack received $225,000 in cash. What would be the new UCC for his daughter? Round your final answer to the nearest dollar
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Management Accounting In A Dynamic Environment
Authors: Cheryl S McWatters, Jerold L Zimmerman
1st Edition
0415839025, 9780415839020
