Monica's Lawn Service,Inc.,purchases a heavy-duty tri-cut lawn mower on March 17,2016,for $4,500.The depreciation on the lawn mower in 2016 was $500.In July,a tire on the lawn mower is repaired at a cost of $650.Maintenance costs on the lawn mower for 2016 total $175.What is Monica's basis in the lawn mower at the end of 2016?
A) $650
B) $4,000
C) $4,650
D) $5,150
E) $5,325
Correct Answer:
Verified
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