Pioneer Logging Owns a Tug Boat to Manage Floating Booms

question 8

Multiple Choice

Pioneer Logging owns a tug boat to manage floating booms of felled trees off the Queen Charlotte Islands. The boat was purchased in February of 2006 for $128,000. If the rate for the asset class is 15%, what is the amount of CCA (capital cost allowance) that the company can claim on their 2008 income tax return?

• A) $12,832
• B) $13,872
• C) $14,076
• D) $15,096
• E) $16,320

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