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Calculate the ucc at the end of year six

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Question - Suppose your firm is considering buying a van costing $85,000. What is the Un-depreciated capital cost (UCC) for the van after Six years. Note: the van falls in class 10 with a 30 percent CCA rate. Use the tabular approach when calculating the UCC after Six years.

a) Calculate the UCC at the end of year 6

b) If the Van is sold at $4500 at the end of 6 years, what is the tax implication? What name is assigned to this tax implication?

c) If the Van is sold at $55,000 at the end of 6 years, what is the tax implication? What name is assigned to this tax implication?

Reference no: EM133094250

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