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Mr Dennis Purchased a Machine for Use in His Business

Question 534

Multiple Choice

Mr. Dennis purchased a machine for use in his business. Mr. Dennis' costs in connection with this purchase were follows: Mr. Dennis purchased a machine for use in his business. Mr. Dennis' costs in connection with this purchase were follows: What is the amount of Mr. Dennis' basis in the machine? A) $46,100 B) $40,400 C) $41,900 D) $33,000 What is the amount of Mr. Dennis' basis in the machine?


A) $46,100
B) $40,400
C) $41,900
D) $33,000

Correct Answer:

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