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What is the maximum CCA CBF Company can deduct

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Reference no: EM132804117

Problem 1: CBF Company has a calendar fiscal year and acquires a machine on April 1, 2020 that costs $34,000. The firm pays a contractor $11,500 to install the machine and pays a non-refundable provincial sales tax of $4,600. The machinery is a Class 8 asset with a CCA rate of 20% and is the only asset in this class. What is the maximum CCA CBF Company can deduct on this machine for the 2020 fiscal year?

A. $5,010
B. $15,030
C. $10,020
d. $13,650

Reference no: EM132804117

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