We appreciate your visit to Logan purchased a rental home and lot for 150 000 Her expenses totaled 5 000 Lots in the area sell for approximately 10 000 What. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Answer:
The correct response is "145,000
".
Explanation:
The given values are:
Purchased cost,
= $150,000
Expenses,
= $5,000
Selling cost,
= $10,000
Now,
Logan's basis for depreciation will be:
= [tex]Purchased \ cost+Expenses-Selling \ cost[/tex]
On putting the values, we get
= [tex]150000+5000-10000[/tex]
= [tex]155000-10000[/tex]
= [tex]145,000[/tex] ($)
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