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What is Emilys cost basis in the new building

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Question - Emily purchased a building to store inventory for her business. The purchase price was $935,000. Emily also paid legal fees of $555 to acquire the building. In March, Emily incurred $2,000 to repair minor leaks in the roof (from storm damage earlier in the month) and $4,900 to make the interior suitable for her finished goods. What is Emily's cost basis in the new building?

Reference no: EM132520719

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