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Shahrukh owns a residential rental building which he purchased for $200,000 in 2020. In that year, his rental income before Capital Cost Allowance was $5,000.

Shahrukh owns a residential rental building which he purchased for

$200,000

in 2020. In that year, his rental income before Capital Cost Allowance was

$5,000.

In 2021, his rental income before Capital Cost Allowance was

$8,000.

Sharukh always minimizes his tax liability. Which of the following statements is correct?

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