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QUESTION ONE In the current year, Eddie Enterprises purchased new office equipment costing $40,000. The vendor gave Eddie Enterprises $3,500 for the old office equipment

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QUESTION ONE In the current year, Eddie Enterprises purchased new office equipment costing $40,000. The vendor gave Eddie Enterprises $3,500 for the old office equipment which had been purchased three years ago for $6,000. At the beginning of the current year, the Class 8 UCC balance was $10,000. Calculate the maximum CCA deduction for Class 8 for the current year, 2020 CPA Competency 6.2.2 CCA: additions exceed disposals. Income tax reference: ITA 13(21), 20(1)(a), Reg. 1100(1), (2)

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