You own some equipment which you purchased three years ago at a cost of $135,001. The equipment belongs in a 25% CCA class, and you do not have any other assets in this class. You are
Considering selling the equipment today for $82,501. Which one of the following statements is
Correct if your tax rate is 34%?
A) The tax due on the sale is $5,458.59.
B) The book value today is $8,478.
C) The book value today is $64,320.
D) The taxable amount on the sale is $38,880.
E) You will receive a tax refund of $13,219.20 as a result of this sale.
Correct Answer:
Verified
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