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Which of the Following is Correct Regarding the Claiming of Input

Question 15

Multiple Choice

Which of the following is correct regarding the claiming of input tax credits in respect to the purchase of a car for business use?


A) If a car is purchased for $120,000, the maximum input tax credit that can be claimed is $5,235
B) If a car is purchased for $120,000, the maximum input tax credit that can be claimed is $10,909
C) If a car is purchased for $55,000 and is used 50% for business purposes, the maximum input tax credit that can be claimed is $5,000
D) If a car is purchased for $22,000 for private purposes the maximum input tax credit that can be claimed is $2,000

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