Original basis at time of acquisition was

Reference no: EM133608046

Question: Mark purchased a piece of machinery for use in his business in the current year. The list price of the machinery was $350,000. Mark also paid the following costs related to the machinery at time of acquisition: sales taxes, $20,000; delivery charge, $2,000; and legal fees related to the acquisition, $1,000. Based strictly on these facts, Mark's original basis at time of acquisition was:

Reference no: EM133608046

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