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Ms. Linda Smith acquires a residential property in July, 2019 at a total cost of $301000. Of this total, $64000 can be allocated to the value of the land. The building goes in class 1 at a 4% CCA rate. It is eligible for the accelerated investment incentive. Rents for the 2019 year total $7200, while rental expenses other than CCA total $3500. This is the only rental property owned by Ms. Smith. Determine the maximum CCA deduction that can be taken for 2019.
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