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What is the maximum capital cost allowance for current year

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Problem 1: Edwin owns a residential rental property. In the current year he received rent of $60,000 and incurred the following expenses: mortgage interest $40,000, property tax $7,000, insurance $5,000, and repairs $2,000. At the beginning of the year the undepreciated capital cost of the building was $340,000. What is the maximum capital cost allowance for the current year?

Reference no: EM132941775

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