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What is jose cost basis for the delivery van

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Question - Jose purchased a delivery van for his business through an online auction. His winning bid for the van was $43,000. In addition, Jose incurred the following expenses before using the van: shipping costs of $1,610; paint to match the other fleet vehicles at a cost of $1,330; registration costs of $3,534, which included $3,300 of sales tax and an annual registration fee of $234; wash and detailing for $74; and routine maintenance for $303. What is Jose's cost basis for the delivery van?

Reference no: EM132617037

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