Our new computer system cost us $100,000. We will outgrow it in five years. When we sell it, we will probably get only 20% of the purchase price. CCA on the computer will be calculated at a 30% rate (Class 10). Calculate the CCA and UCC values for five years. (Round the final answers to 2 decimal places. Omit $ sign in your response.) Year 1 2 3 4 5 CCA $ 15000 $ 25500 $ 17850 $ 12495 $ 8746.50 › › Ending UCC 35000✔ 59500 ✔ $ 41650✔ $ 29155 ✔ $ $ $ 20408.50 What will be the after-tax proceeds from the sale assuming the asset class is continued? Assume a 40% tax rate. (Round the final answers to 2 decimal places. Omit $ sign in your response.) After-tax proceeds $ 20163.40 Ⓡ

Our new computer system cost us $100,000. We will outgrow it in five years. When we sell it, we will probably get only 20% of the purchase price. CCA on the computer will be calculated at a 30% rate (Class 10). Calculate the CCA and UCC values for five years. (Round the final answers to 2 decimal places. Omit $ sign in your response.) Year 1 2 3 4 5 CCA $ 15000 $ 25500 $ 17850 $ 12495 $ 8746.50 › › Ending UCC 35000✔ 59500 ✔ $ 41650✔ $ 29155 ✔ $ $ $ 20408.50 What will be the after-tax proceeds from the sale assuming the asset class is continued? Assume a 40% tax rate. (Round the final answers to 2 decimal places. Omit $ sign in your response.) After-tax proceeds $ 20163.40 Ⓡ

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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