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Please show the answer in steps ABC Inc. purchased a new machine to use in its newest project. The machine costs $1,670,000. The CCA rate

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ABC Inc. purchased a new machine to use in its newest project. The machine costs $1,670,000. The CCA rate is 14%. The tax rate is 38%. What is the amount of the CCA expense that the company can claim in year 3? Your answer should be accurate to two decimal places.

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