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A new machine with a purchase price of $94,985, with transportation costs of $8,334, installation costs...

A new machine with a purchase price of $94,985, with transportation costs of $8,334, installation costs of $5,765, and special acquisition fees of $2,915, would have a cost basis of

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Answer #1

Cost Basis Means all cost incurred for bringing assets in to useable condition.

Cost Basis =

Purchase price =                             $ 94,985

Add: Transportation Cost = $ 8,334

Add: Installation Cost =                 $ 5,765

Add : Special acquisition fees =   $ 2,915
________________________________________

Cost Basis=                                        $ 111,999

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