Our new computer system cost us $132,400. We will outgrow it in five years. When we sell it, we will probably get only 10% 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 your intermediate calculations and final answers to 2 decimal places. Omit $ sign in your response.) Year 1 2 3 4 5 CCA $59580.00 $21846.00 $15292.20 $10704.54 $ 7493.18 Ending UCC $72820.00 $50974.00 $35681.80 $ 24977.26 $4244.08 What will be the after-tax proceeds from the sale assuming the asset pool remains open? Assume a 40% tax rate. (Omit $ sign in your response.) After-tax proceeds $ 13240

Our new computer system cost us $132,400. We will outgrow it in five years. When we sell it, we will probably get only 10% 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 your intermediate calculations and final answers to 2 decimal places. Omit $ sign in your response.) Year 1 2 3 4 5 CCA $59580.00 $21846.00 $15292.20 $10704.54 $ 7493.18 Ending UCC $72820.00 $50974.00 $35681.80 $ 24977.26 $4244.08 What will be the after-tax proceeds from the sale assuming the asset pool remains open? Assume a 40% tax rate. (Omit $ sign in your response.) After-tax proceeds $ 13240

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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