Question
Smythe Co. purchased a Class 8 photocopier in 2019 for $2,500. The copier needed replacing in 2021, and a new Class 8 machine costing $2,800
Smythe Co. purchased a Class 8 photocopier in 2019 for $2,500. The copier needed replacing in 2021, and a new Class 8 machine costing $2,800 was purchased. The old copier was sold for $300 in parts. What is the most beneficial impact on income from this 2021 transaction? (Smythe Co. has always claimed the maximum CCA allowed.)
Multiple Choice
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$2,140
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$780
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$1,030
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$1,940
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
