Adison Oilfield Services Ltd.'s partial income statement for its first year of operations is as follows: Income from Operations $1,750,000 Income tax expense: Current $405,000 Deferred 45,000 450,000 Net Income $1,300,000 Madison uses straight-line depreciation for financial reporting purposes and CCA for tax purposes. The depreciation expense for the year was $750,000. Except for depreciation, there were no other differences between accounting and taxable income.

Assuming a 25% tax rate, what amount was claimed for CCA on the corporation's tax return for the year? 

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To calculate the amount claimed for Capital Cost Allowance CCA on the corporations tax re... View the full answer