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Regina Co. is a CCPC with a December 31 year end. Regina is not associated with any other corporations. Taxable capital employed in Canada for
Regina Co. is a CCPC with a December 31 year end. Regina is not associated with any other corporations. Taxable capital employed in Canada for the current and preceding years was less than $10,000,000. AAII for the current year and preceding year was $72,000 and $62,000, respectively. What is the reduced business limit for Regina for the current year? A. $50,000 B. $440,000 C. $60,000 D. $390,000 Note: The correct answer is B. I don't know how to solve this
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
8th Canadian Edition
978-1119502425
