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Tanya operates a business as a sole proprietor and in February, she purchased a photocopier for $3,400. The photocopier falls into Class 8, which has

Tanya operates a business as a sole proprietor and in February, she purchased a photocopier for $3,400. The photocopier falls into Class 8, which has a maximum CCA rate of 20%. This is the only asset that Tanya has in this class. Tanya wanted to sell the photocopier in December of the same year and was surprised to find that the most she could sell it for was $2,300. She decided to hold on to the machine for another year. Which of the following statements are FALSE?

(1) Tanya has a depreciation expense of $680,

(2) Tanya's unadjusted UCC is $3,400,

(3) Tanya's capital cost is $3,400,

(4) Tanya can claim CCA of up to $340 for the year.

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