Perfect Accruals Inc., purchased an asset five years ago for a cost of $950,000. The asset has a CCA rate of 30%. The company is selling this asset for 20% of its original cost. By what amount should the UCC in the asset class be reduced by?
Show all calculation and formulas if necessary:
$190,000
$285,000
$83,092
$200,000
$193,881
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here