Herb owns a metal working business, from which he draws a salary of $40 per hour. Herb needs a custom metal press, but he could not find what he wanted on the market, so he modified an existing press that he purchased years ago for $6,800. He spent $400 on additional supplies and spent 30 hours doing the conversion. What is the capital cost of the press for CCA purposes?

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To calculate the capital cost of the press for Capital Cost Allowance CCA purposes we n... View the full answer