Question: please explain how u got the answer Buffalo Limited purchased an asset at a cost of $50,00 th on March 1, 2020. The asset has

please explain how u got the answer

Buffalo Limited purchased an asset at a cost of $50,00 th on March 1, 2020. The asset has a useful life of seven years and an estimated residual value of $2,800. For tax purposes, the asset belongs in CCA Class 8 , with a rate of 20%, Calculate the CCA for each year, 2020 to 2023, assuming this is the only asset in Class 8 . How would the calculation change for 2020-2023 based on the new CCA rules implemented in late 2018( see footnote 20) jassuming this is "eligible property

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