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Sheena Maskell Sheena Maskell
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7 years ago
During the current year, Tony purchased new car wash equipment for use in his service station business. Tony's costs in connection with the purchase were as follows:

Cost of the equipment   $45,000
Sales tax on the equipment   4,000
Delivery charges   600
Installation and testing charges   3,000
Expenses of operating the equipment   2,000

What is Tony's basis in the car wash equipment?
A) $49,000
B) $49,600
C) $52,600
D) $54,600
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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MsLippyMsLippy
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7 years ago
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Sheena M. Author
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#2
7 years ago
I took a chance with your answer

It was right
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