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If equipment priced at 130000 is acquired by trading in a similar asset at 8000 What is the cost basis of the new asset?

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Anonymous

∙ 11y ago
Updated: 11/6/2022

As trade-in value of old asset is 8000 which is deducted from price of new asset and actual cash paid to acquire new asset is 122000 so the base value for new asset will be 122000.

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Wiki User

∙ 11y ago
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