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A new truck was purchased for $180,000 by trading in a similar truck that had a book value of $55,200.

A new truck was purchased for $180,000 by trading in a similar truck that had a book value of $55,200. Assuming that the trade-in allowance is $46,000, what is the cost basis of the new asset for depreciation purposes?

 

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A new truck was purchased for $180,000 by trading in a similar truck that had a book value of $55,200. was first posted on September 23, 2020 at 5:53 pm.
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