Multiple Choice
A firm purchased an asset with a 5-year life for $90,000, and it cost $10,000 for shipping and installation. According to the current tax laws the cost basis of the asset at time of purchase is
A) $100,000.
B) $95,000.
C) $80,000.
D) $70,000.
Correct Answer:
Verified
Correct Answer:
Verified
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