Allison buys equipment and pays cash of $50,000, signs a note of $10,000 and assumes a liability on the property for $3,000. In addition, Allison pays an installation cost of $500 and a delivery cost of $800. Allison's basis in the asset is

A. $64,300.
B. $60,000.
C. $63,000.
D. $63,500.


Answer: A

Business

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