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What is the adjusted basis of the building

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Reference no: EM132531105

Question - Amy purchased an office building for his business several years ago at 580,000 including 100,000 for land and the sales tax was 10,280 the legal fee was 5000 she paid 25,800 for some improvements made for the building she also paid 3580 in Soto for some minor repairs and maintenance during the previous year's assume the accumulated depreciation 48,500.

Required - What is the adjusted basis of the building for the current year?

A. 476,160

B. 472,580

C. 572,580

D. 576,160

Reference no: EM132531105

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