Laurie's Lawn Service, Inc., purchases a heavy-duty tri-cut lawn mower on March 17, 2018, for $5,500. Under a special election, Laurie's expenses the $5,500 cost of the lawn mower in 2018. In July, a tire on the lawn mower is repaired at a cost of $450. Maintenance costs on the lawn mower for 2018 total $175. What is Laurie's basis in the lawn mower at the end of 2018?

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The Answer of Laurie's Lawn Service, Inc., purchases a heavy-duty tri-cut lawn mower on March 17, 2018, for $5,500. Under a special election, Laurie's expenses the $5,500 cost of the lawn mower in 2018. In July, a tire on the lawn mower is repaired at a cost of $450. Maintenance costs on the lawn mower for 2018 total $175. What is Laurie's basis in the lawn mower at the end of 2018?