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Question 3 (1 point) Kinnetics Inc. purchased Class 8 equipment (20% CCA Rate) for $15,000 on July 23, 2014. Opening UCC for Class 8 in
Question 3 (1 point) Kinnetics Inc. purchased Class 8 equipment (20% CCA Rate) for $15,000 on July 23, 2014. Opening UCC for Class 8 in 2015 was $12,000. Kinnetics is subject to 40% taxation. During 2015 Kinnetics sold Class 8 equipment with UCC of $9,000 and purchased another Class 8 equipment for $4,000. Which of the below are correct? OCCA of $1,400 in 2015 O Tax benefit of $560 in 2015 O Ending UCC of $5,600 in 2015 O All of the above are correct O None of the above are correct
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