What is tonys basis in the car wash equipment

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Reference no: EM13753303

During the current year, Tony purchased new car wash equipment for use in his service station business. Tony's costs in connection with the new equipment this year were as follows:

Cost of the equipment………………………………………..$45,000

Sales tax on the equipment……………………………… …...4,000

Delivery charges……………………………………………………600

Installation and testing charges………………………………..3,000

Expenses of operating the equipment………………………. .2,000

What is Tony's basis in the car wash equipment?

Reference no: EM13753303

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