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Calculate recaptured cca

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Question - During 2020, Laiken Limited sold its only Class 3 asset. At the time of sale, the balance of the undepreciated capital cost for this class was $37,450. The asset originally cost $129,500. Calculate recaptured CCA, capital gains, and terminal losses, if any, assuming the asset was sold for proceeds of (1) $132,700, (2) $51,000, and (3) $22,000.

Reference no: EM132922297

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