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Chuck owns two rental condominium units, which he bought about 13 years ago. He acquired...

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Accounting

Chuck owns two rental condominium units, which he bought about 13 years ago. He acquired the first one on Blaine Avenue for $126,000, and its UCC at the beginning of the year was$108,000. He acquired the unit on Freshmeadow Way for $140,000 and its UCC at the beginning of the year was $127,000. Both properties fall within CCA class 1, which has a maximum CCA rate of4%. He sold the unit on Freshmeadow Way this year for $138,000. Which of the following statements is true?

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