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You purchased a residential home in which to locate your professional office for $150,000. Assume that the entire house is used for business. The appraisal

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You purchased a residential home in which to locate your professional office for $150,000. Assume that the entire house is used for business. The appraisal (assessment) is divided into $30,000 for the land and $120,000 for the building. For the tax purposes, what is the undepreciated capital cost of the building (Suppose your property was sold at $187,000 at the end of fourth year of ownership). CCA rate is given as 4%? a) Between 103,000 and $106,000 O b) Between $92.000 and $95.000|| c) Between $110,000 and $113,000 d) Between $95,000 and $98,000 O e) Between $114,000 and $117,000 o f) None of the answers are correct

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