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Answer to Question 1
· For any of the assets for which prime cost method of deduction was used is not eligible to use low-value pool of assets. Hence in the given question, low-value pool of assets is not eligible for Desks and appliances.
· As the value of printers at the year end is less than $1,000, it is eligible for low-value pool of assets. The printer computed by the diminishing value method and the value of the same is reduced...