Determine her maximum charitable donations tax credit, Financial Accounting

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Determine her maximum charitable donations tax credit

Problem

Ms. Rhonda Fern donates some equipment to the Make A Wish Foundation, a registered Canadian charity. The assets have a fair market value of $62000, a capital cost of $53000, and a UCC of $46000. She elects to make the donation at the fair market value of $62000. She has no other source of income during the year. Determine her maximum charitable donations tax credit for 2019.

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Financial Accounting: Determine her maximum charitable donations tax credit

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Financial Accounting: Determine her maximum charitable donations tax credit

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