Mike opened a new convenience store on January 1 of this year. He rents retail space with a lease of 7 years with a renewal period of 3 years and a second renewal period of 2 years after. He made leasehold improvements costing $37,000. What is the Mike's maximum CCA claim on leaseholds improvements?

Answer rating: 100% (QA)

Heres how to calculate Mikes maximum CCA claim on leasehold improvements 1 Determine the CCA class a... View the full answer