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What is the maximum cca that can be deducted for the machine

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Problem 1: A proprietorship has a calendar fiscal year and acquires a machine on April? 1, 2020. The machine has a cost of ?$52,000. The proprietor pays a contractor ?$17,000 to install the machine and pays a? non-refundable provincial sales tax of ?$5,000. The machinery is Class 8 equipment with a CCA rate of 20?%. Assuming that the opening UCC for Class 8 assets is? $0, what is the maximum CCA that can be deducted for this machine in fiscal year 2020??

A. ?$14,800
B. ?$7,400
C. ?$22,200
D. ?$20,700

Reference no: EM132804123

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