Terry owns a residential rental property. In the current year he received rent of $45,000 and incurred the following expenses: mortgage interest $25,000, property tax $5,000, insurance $3,000, and repairs $6,0 At the beginning of the year the undepreciated capital cost of the building was $450,000. What is the amount of capital cost allowance Terry may deduct for the current tax year? $31,000 $4,000 $6,000 $18,000 Question 25 (2 points) Saved In 2022, Hurley has Net Income For Tax Purposes and Taxable Income of $230,000. During the year, he makes a cash gift to a registered charity of $70,000. What is his maximum charitable donations tax credit for 2020 ? $23,100 $20,300 $20,604 520,714