Chairy Nice acquires a residential building on March 1, 2023. The residential building has a cost of $657871. Chairy Nice pays a contractor $171011 to fix some deficiencies in the structure and non-refundable PST of $6671. Chairy Nice has no opening UCC for any CCA classes. Chairy Nice has a December 31, 2023 year-end and this is not their first year of operation.

What is the maximum CCA that can be deducted for the year on this residential building? Round your final answer to the nearest dollar. Do not round intermediary answers. Do not use $ signs in your final

Answer rating: 100% (QA)

Residential buildings belong to Class 1 with a 4 CCA rate according to the C... View the full answer