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The January 1, 2020 balance in this Class was $42,500, reflecting improvements that were made in Jan 1, 2018, the year in which the lease
The January 1, 2020 balance in this Class was $42,500, reflecting improvements that were made in Jan 1, 2018, the year in which the lease commenced. These improvements were made on a property leased as office space for the Companys executives. The basic lease term is for 8 years, with an option to renew for a period of 2 years. This year an additional improvement, costing $40,000, were made during 2020.
Required: Calculate the maximum CCA deduction allowed for class 13.
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