Multiple Choice
An asset with a purchase cost of $96 422 and a CCA rate of 40% has a market value of $4 000 at the end of its 10-year life. Assume this asset is the only asset in its class. Which of the following statements about this situation is correct?
A) There is a recapture of $2 704
B) There is a terminal loss of $2 467
C) There is a recapture of $2 133
D) There is a terminal loss of $1 736
Correct Answer:
Verified
Correct Answer:
Verified
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