Myrle Cocco owns a car that she uses both in her business and for personal use. The cost of the car was $28,000 and, on January 1, 2020, the UCC for the vehicle (it is the only asset in Class 10)was $11,662. During the year she drives the car a total of 42,000 kilometers of which 38,000 were related to her business activities. Her insurance for the year was $950 and her operating costs were $6,500. What is the amount of her maximum deduction for car costs during 2020?

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The Answer of Myrle Cocco owns a car that she uses both in her business and for personal use. The cost of the car was $28,000 and, on January 1, 2020, the UCC for the vehicle (it is the only asset in Class 10)was $11,662. During the year she drives the car a total of 42,000 kilometers of which 38,000 were related to her business activities. Her insurance for the year was $950 and her operating costs were $6,500. What is the amount of her maximum deduction for car costs during 2020?

Myrle Cocco Owns a Car That She Uses Both in Her