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Leanne owned a condominium unit which she used to generate rental income. She originally acquired the unit at cost of S160,000. Over the years, she
Leanne owned a condominium unit which she used to generate rental income. She originally acquired the unit at cost of S160,000. Over the years, she had claimed $14,000 in CCA, such that her UCC at the beginning of the year was $146,000. This year, she sold the unit for $144,000. She incurred selling expenses of S5,000. What statement is true? o o o o Leanne has a terminal loss of $7,000 Leanne has a capital loss of $21,000. Leanne has a recapture of $14,000 Leanne has a terminal loss of $5,000
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