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CTT Limited has an asset which cost $300 with related accumulated depreciation of $100. The accumulated depreciation for tax purposes is $180 and the company tax rate is 30%. The tax base of this asset is: Question 3Answer a. $120 b. $20 c. $80 d. $220

CTT Limited has an asset which cost $300 with related accumulated depreciation of $100. The accumulated depreciation for tax purposes is $180 and the company tax rate is 30%. The tax base of this asset is: Question 3Answer a. $120 b. $20 c. $80 d. $220

SWFT Corp Partner Estates Trusts
SWFT Corp Partner Estates Trusts
42nd Edition
ISBN:9780357161548
Author:Raabe
Publisher:Raabe
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 11DQ
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CTT Limited has an asset which cost $300 with related accumulated depreciation of $100. The accumulated depreciation for tax purposes is $180 and the company tax rate is 30%. The tax base of this asset is:

Question 3Answer

a.

$120

b.

$20

c.

$80

d.

$220

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