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What is her depreciable basis for depreciating the equipment

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Reference no: EM132601566

Question - Meredith Grey received a gift of some small-scale jewelry manufacturing equipment that her father had used for personal purposes for many years. Her father originally purchased the equipment for $1,948, the property is currently worth $1,456. Meredith has decided to begin a new jewelry manufacturing trade or business. What is her depreciable basis for depreciating the equipment?

Reference no: EM132601566

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