Multiple Choice
Alvin is employed by an automobile dealership as its manager. As such, he purchased an SUV for $32,000 (fair market value is $48,000) . No other employees are permitted a discount. What is Alvin's basis in the SUV?
A) $16,000.
B) $32,000.
C) $48,000.
D) $80,000.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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