Monica's Lawn Service, Inc., purchases a heavy-duty tri-cut lawn mower on March 17, 2014, for $4,500. The depreciation on the lawn mower in 2014 was $500. In July, a tire on the lawn mower is repaired at a cost of $650. Maintenance costs on the lawn mower for 2014 total $175. What is Monica's basis in the lawn mower at the end of 2014?
A) $ 650
B) $4,000
C) $4,650
D) $5,150
E) $5,325
Correct Answer:
Verified
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