(Answered) Question - on august 120x7 a certain corporation acquired a

Accounting

Question - On August 1,20x7, a certain corporation acquired a patent ($20,000), customer list and sales data ($40,000), and a franchise ($10,000). The patent had 10 years to run. The franchise is an exclusive franchise with a 5-year life. The customer list and sales data were purchased during the year from a competitor who ceased business operations. The corporation's year-end is December 31.

Required: Calculate the 20x7, 20x8, and 20x9 CCA and cumulative eligible capital amount the corporation can deduct for each property.

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