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For each of the following depreciable assets, indicate the appropriate CCA class. Residential rental property...

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Accounting

For each of the following depreciable assets, indicate the appropriate CCA class. Residential rental property acquired for $200,000. The purchase price was allocated $150,000 to the building. Answer 1 Government licence with an unlimited life acquired in 2020 Answer 2 Water storage tank Answer 3 Photocopy machine Answer 4 Manufacturing and processing equipment acquired in 2020 Answer 5 Franchise with a limited life Answer 6 Automobile (i.e., passenger vehicle) with a cost of $120,000 (gas powered) Answer 7 Residential rental property acquired for $200,000. The purchase price was allocated $50,000 to the land. Answer 8 Leasehold improvements Answer 9 Taxicab (gas powered) Answer 10

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