At the beginning of year 3, LMOT Company had the following UCC balances:
Class 43, CCA rate = 30%, UCC = $25,000
Class 8, CCA rate = 20%, UCC = $10,000
During Year 3, LMOT neither bought nor sold any assets.The total maximum CCA that LMOT can claim in Year 3 is:
A)$4,750
B)$7,000
C)$9,500
D)$10,500

Question

Quizplus · Accepted Answer

The Answer of At the beginning of year 3, LMOT Company had the following UCC balances:
Class 43, CCA rate = 30%, UCC = $25,000
Class 8, CCA rate = 20%, UCC = $10,000
During Year 3, LMOT neither bought nor sold any assets.The total maximum CCA that LMOT can claim in Year 3 is:
A)$4,750
B)$7,000
C)$9,500
D)$10,500

At the Beginning of Year 3, LMOT Company Had the Following