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Problem 4 On October 1, you purchased a residential home in which to locate your...

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Accounting

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Problem 4 On October 1, you purchased a residential home in which to locate your professionall office for $450,000. The appraisal is divided into $30,000 for the land and the rest for the building (Check Table 8.1 posted at eclass to find the rresponding CCA rates ) (a) In your first year of ownership, how much CCA can you deduct? (Assume that ENG M 310A1 Engineering Economy (Fall 2017) (b) Suppose that the property was sold at $187,000 at the end of the fourth year of ownership. What is the undepreciated capital cost of the building? TABLE 8.I Capital Cost Allowance Rates and Classes Man 1 tea 17 55%

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