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What would be the amount of terminal loss

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Reference no: EM133046191

Question - James Co has the following related to Class 8? assets: Beginning? UCC Balance: $35,624.

James disposes of all assets within the class during the? year, for proceeds of disposition of $21,820. The total cost of these assets was $74,863.

If James Co has no additions for the? year, and there are no assets remaining in the class at the end of the? year, what would be the amount of terminal loss James Co must add to business income for tax purposes?

Reference no: EM133046191

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