Description of this paper

Dennis purchased a machine for use in his business. Mr. Dennis' costs in connection with this purchase were as follows;Note...

Description

solution


Question

Dennis purchased a machine for use in his business. Mr. Dennis' costs in connection with this purchase were as follows;Note to seller $33,000;Cash paid to seller 5,000;State sales tax 2,400;Freight to place of business 1,500;Wages paid to workers to install machine 4,200;What is the amount of Mr. Dennis' basis in the machine?

 

Paper#77142 | Written in 18-Jul-2015

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