Several years ago solea company purchased a mercedes benz, Ask an Expert

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Several years ago, Solea Company purchased a Mercedes Benz that is used exclusively for business use. The car is in a separate Class 10.1. On January 1, 2012 the UCC balance is $17,850. On August 1, 2012 the car was sold for $17,000. For 2012 tax purposes, the company will report a:

a. Terminal loss of $850

b. Recapture of $850

c. CCA deduction of $2,678

d. CCA deduction of $2,245

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92668279

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