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What is the equipment capital cost for tax purposes

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Reference no: EM132668793

Problem 1: K owns office equipment that has been used for personal purposes since it was purchased last year for $2,500. During the current year K began using the equipment exclusively for his business. The equipment has a current value of $2,000. What is the equipment's capital cost for tax purposes in the current year?

Reference no: EM132668793

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