A unincorporated sole proprietorship has a calendar fiscal year and acquires a machine on April 1, 2020. The machine has a cost of $61,112. The proprietor pays a contractor $18.431 to install the machine and plus a non-refundable provincial sales tax of $9,090. The machinery is a Class 8 asset Assuming that the opening UCC for Class B assets is 50, what is the maximum CCA that can be deducted for this machine in fiscal year 2020?

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Cost of Capital Assets includes all those expenses which are incurred fro... View the full answer