question content area a new machine with a purchase price of $81,551, with transportation costs of $8,983, installation costs of $5,582, and special acquisition fees of $2,282, would have a cost basis of a.$81,551 b.$87,133 c.$89,415 d.$98,398

Question

19-12-2022
Business

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question content area a new machine with a purchase price of $81,551, with transportation costs of $8,983, installation costs of $5,582, and special acquisition fees of $2,282, would have a cost basis of a.$81,551 b.$87,133 c.$89,415 d.$98,398

Answer :

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Qwclear Qwclear · Answer 1 · 2022-12-25T12:11:22-05:00

The cost basis of the new machine will be equal to $98398 that is the option D is correct option.

Whenever a new machine is to be installed in an organization, it comes with some expenses. The cost of the machine, its installation cost, cost in maintenance all these costs are included in the overall cost of the installation of the machine which is known as the cost basis of the Machine. The formula for cost basis will be expressed as

Cost basis = Purchase price + Transportation cost + Installation cost + Special acquisition fees

Cost basis = $81551 + $8983 + $5582 + $2282

Cost basis = $98398

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