On January 20, 2011, a personal residence which originally cost $280,000 was converted into a rental property. At this time the property had a fair market value of $320,000. On June 1, 2013, the property was converted back to a personal residence. At that time the property had a fair market value of $305,000.
REQUIRED
If the building is the only asset in Class 1, which has a 4% capital cost allowance rate, how much capital cost allowance may be deducted for the years 2011 through 2013, inclusive? [where an individual has income from property, the taxation year for that income is the full calendar year, i.e., there cannot be a short taxation year for that income.]