Jordan paid $30,000 for equipment two years ago and has claimed total depreciation deductions of $15,600 for the two years. The cost of repairs during the same time period was $2,000 while a major overhaul which extended the life of the equipment cost $7,000. What is Jordan's adjusted basis in the equipment at the end of the two-year period?
A. $14,400
B. $30,000
C. $16,400
D. $21,400
Answer: D
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Indicate whether the statement is true or false
Jack spends most of his free time participating in extreme sports and traveling to exotic locations with a group of close friends who share his interests and opinions about most things. This is a description of Jack's
A. self-concept. B. lifestyle. C. personality. D. attitudes. E. role.