Asus Corporation purchased a long-term asset for $120,000. The asset has a 30% CCA rate....
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Asus Corporation purchased a long-term asset for $120,000. The asset has a 30% CCA rate. At the end of year 4, Asus sold the asset for $28,000. Given this information, determine the value of the terminal loss or recapture at the end of year 4.
a) terminal loss of $3,014
b) CCA recapture of $6,986
c) terminal loss of $6,986
d) CCA recapture of $6,986
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