James Co has the following related to Class 8 assets: Beginning Balance: $32,000 James disposes of...
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James Co has the following related to Class 8 assets: Beginning Balance: $32,000 James disposes of all assets within the class during the year, for proceeds of disposition of $16,000. If James Co has no additions for the year, and there are no assets remaining in the class at the end of the year, which of the following will occur? Choose the correct answer OA. recapture of $16,000 of CCA OB. recapture of $12,800 of CCA OC. a terminal loss of $16,000 OD. a terminal loss of $12.800 James Co has the following related to Class 8 assets: Beginning Balance: $32,000 James disposes of all assets within the class during the year, for proceeds of disposition of $16,000. If James Co has no additions for the year, and there are no assets remaining in the class at the end of the year, which of the following will occur? Choose the correct answer OA. recapture of $16,000 of CCA OB. recapture of $12,800 of CCA OC. a terminal loss of $16,000 OD. a terminal loss of $12.800
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