On April 1^st of the current year, M Limited paid $20,000 for a license to manufacture widgets. The license has a 4-year limited life. What is the maximum amount of capital cost allowance (CCA) that M Limited can claim in the current year in respect of this license? Ignore the effects of leap year.

A. $500

B. $1,000

C. $1,884

D. $3,767

Answer rating: 100% (QA)

Solution Answer is B 1000 The li... View the full answer