Question

doug purchased a new factory building on january 15 2001 for 400,000. on march 1 2020 the building was sold. determine the cost recovery percentage for the year of the sale

Answer 1

Answer:

The answer is "$2.5640\%$"

Explanation:

Cst deduction on recovery for the sales year:

$= \ 400,000 \times 0.02564 \times \frac{2.5}{12}\ months \\\\ =\ 2,136.67$

Recovery of Costs Percentage for sales year:

$= 2.5640\%$