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in 2022, depreciable property with a capital cost of $100,000 and a ucc balance of...

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Accounting

In 2022, depreciable property with a capital cost of $100,000 and a UCC balance of $60,000 at the end of the taxation year, is sold for $103,000. The carrying value for accounting purposes was $70,000. What are the income tax consequences of the sale

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