Leo Smith Inc. paid $726420; in 2007 for a used office building. This purchase price represents...
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Leo Smith Inc. paid $726420; in 2007 for a used office building. This purchase price represents $ 545000 for the building and $181420 for the land. Calculate the capital cost allowance ($) over the first five years of ownership. Note: Use the 50% rule (Half-year convention) in the first year CCA rate= Class number 1 (Please keep two decimal places) Year Year 1 Year 2 Year 3 Year 4 Year 5 CCA Leo Smith Inc. paid $726420; in 2007 for a used office building. This purchase price represents $ 545000 for the building and $181420 for the land. Calculate the capital cost allowance ($) over the first five years of ownership. Note: Use the 50% rule (Half-year convention) in the first year CCA rate= Class number 1 (Please keep two decimal places) Year Year 1 Year 2 Year 3 Year 4 Year 5 CCA
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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