zeta purchased the following assets 1 zeta ltd is a canadian controlle
1. Zeta Ltd. is a Canadian-controlled private corporation, printing and publishing books,which began operating on June 1, 2020. It has chosen a December 31, year-end. Zeta purchased the following assets: Land and Building to be used for manufacturing built after March 18, 2007 ($348,000 with $100,000 allocated to land) $248,000 Printing presses 120,000 Officeand equipment $245,000 The following facts were gathered by the accountants: 1.Legal fees paid to set up the company were $20,000. A new passenger vehicle costing $60.000 was purchased in November 2020. 3.Zeta paid $30,000 for production of a TV commercial.Required: Calculate Zeta’s maximum capital cost allowance for 2020.
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