A1A is a proprietorship that has a calendar fiscal year. The proprietorship begins operations on April 1,

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A1A is a proprietorship that has a calendar fiscal year. The proprietorship begins operations on April 1, 2020 and acquires a machine on December 1, 2020.

The machine has a cost of $22,000 and A1A incurs an additional$5,800 in expenses for installation. The machine is a Class 8 asset with a rate of 20%.

What is the maximum CCA deduction A1A can take on this asset for the April 1 to December 31, 2020 fiscal year?

Choose the correct answer. (Round your answer to the nearest dollar.)

A. $4,189

B. $8,340

C. $6,284

D. $2,095

Related Book For answer-question

Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Posted Date: Jul 12, 2021 08:15 PM

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A1A is a proprietorship that has a calendar fiscal year. The proprietorship begins operations on April 1,

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Calculation of CCA Total cost Purchase Cost plus installation expen... View the full answer

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