Basis in the machine

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Dennis purchased a machine for use in his business. Mr. Dennis' costs in connection with this purchase were as follows:

Note to seller $33,000
Cash paid to seller 5,000
State sales tax 2,400
Freight to place of business 1,500
Wages paid to workers to install machine 4,200

What is the amount of Mr. Dennis' basis in the machine?

Reference no: EM13767236

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