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Leo Smith Inc. paid $495,000 in 2007 for a used office building. This purchase price represents $375,000 for the building and $120,000 for the land.

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Leo Smith Inc. paid $495,000 in 2007 for a used office building. This purchase price represents $375,000 for the building and $120,000 for the land. Calculate the capital cost allowance over the first five years of ownership

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