An Asset Just Purchased Qualifies for a 20% CCA Rate

question 85

Multiple Choice

An asset just purchased qualifies for a 20% CCA rate and qualifies for a 5% ITC. If the asset cost $60,000 what is the amortization base (UCC) for tax purposes?

• A) $54,000
• B) $57,000
• C) $56,000
• D) $48,000

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Definitions:

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