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Calculate the cost of a leasehold improvement for a year

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Reference no: EM132532774

Question 1: How do you calculate the cost of a leasehold improvement for a year when it wasn't provided in the question?

Example:

The Jan. 1, 2019 balance in Class 13 was $149,500, reflecting improvements that were made in 2017, the year in which the lease commenced. These improvements were on a property leased as office space for the company's executives. The basic lease term is for 6 years, with an option to renew for a period of 2 years. Additional improvements, costing $75,000, were made during 2019. What is the maximum CCA that can be deducted for tax purposes?

Reference no: EM132532774

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