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What is the maximum capital cost allowance for the year

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Question - Molly owns a residential rental property. In the current year he received rent of $50,000 and incurred the following expenses: mortgage interest $30,000, property tax $6,000, insurance $2,000, and repairs $8,000. At the beginning of the year the undepreciated capital cost of the building was $330,000. What is the maximum capital cost allowance for the current year?

Reference no: EM132749024

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