Laurie's Lawn Service,Inc. ,purchases a heavy-duty tri-cut lawn mower on March 17,2017,for $5,500.Under a special election,Laurie's expenses the $5,500 cost of the lawn mower in 2017.In July,a tire on the lawn mower is repaired at a cost of $450.Maintenance costs on the lawn mower for 2017 total $175.What is Laurie's basis in the lawn mower at the end of 2017?
A) $- 0 -
B) $450
C) $5,500
D) $5,950
E) $6,125
Correct Answer:
Verified
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