Homework Answers
Solution :-
Opening Balance UCC in 2015 = $12,000
(+) Asset Purchased = $4,000
(-) Asset Sold = $9,000 ( Which is lower of 9,000 and 15,000 )
Now UCC ( for CCA Purpose ) = $12,000 + $4,000 - $9,000 = $7,000
Now CCA in Year 2015 = $7,000 * 20% = $1,400
Now Ending UCC in Year 2015 = $7,000 - $1,400 = $5,600
Now Tax Benefit in Year 2015 = $1,400 * 40% = $560
Therefore Option (D) is correct that is All of the above are correct
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