Question
The following information relates to the Fortin Aluminum's depreciable assets. Class 1 During 2019, an apartment building was acquired at a total cost of $623,000.Of
The following information relates to the Fortin Aluminum's depreciable assets.
Class 1During 2019, an apartment building was acquired at a total cost of $623,000.Of this total, it is estimated that the value of the land is $145,000.The building will be used 100 percent for residential activities. It will be allocated to a separate Class 1.
Class 8The January 1, 2019 balance in this Class was $346,000.During 2019, the Company did not purchase or dispose of any Class 8 assets
Class 10The January 1, 2019 balance in this Class was $150,000.During 2019, 3 passenger vehicles were acquired at a cost of $25,000 each.In addition, a delivery van with a capital cost of $42,000 was sold for $18,000.
Required:
1)Calculate the maximum Capital Cost Allowance (CCA) that can be taken by Fortin Aluminum on each class of assets for the year ending December 31, 2019.
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