Harrison Chen, an insurance salesperson, acquired a luxury antique sports car in 2020 for a capital cost
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Question:
Harrison Chen, an insurance salesperson, acquired a luxury antique sports car in 2020 for a capital cost of $38,000. The car will be used 45% of the time in performing his duties of employment. What is the ending UCC balance in year 1 assuming Harrison applies the accelerated investment incentive.
A). $38,000
B). $30,000
C). $13,500
D). $16,500
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