Fong Limited purchased an asset at a cost of $45,000 on March 1, 2017. The asset has

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Fong Limited purchased an asset at a cost of $45,000 on March 1, 2017. The asset has a useful life of seven years and an estimated residual value of $3,000. For tax purposes, the asset belongs in CCA Class 8, with a rate of 20%. Calculate the CCA for each year, 2017 to 2020, assuming this is the only asset in Class 8.
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Intermediate Accounting

ISBN: 978-1119048534

11th Canadian edition Volume 1

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

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