Cayden Purchased the following for his rental real estate business: An apartment building; he paid $103,500 for the building ( not including the value of the land). Furniture for $8,649. Pickup truck for $27,500, used for 75% business. What is Cayden's total unadjusted basis immediately after acquisition (UBIA) of these assets? 1) $29,274 2) $112,149 3) $132,774 4) $139,649
Cayden Purchased the following for his rental real estate business: An apartment building; he paid $103,500 for the building ( not including the value of the land). Furniture for $8,649. Pickup truck for $27,500, used for 75% business. What is Cayden's total unadjusted basis immediately after acquisition (UBIA) of these assets? 1) $29,274 2) $112,149 3) $132,774 4) $139,649
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cayden Purchased the following for his rental real estate business:
An apartment building; he paid $103,500 for the building ( not including the value of the land).
Furniture for $8,649.
Pickup truck for $27,500, used for 75% business.
What is Cayden's total unadjusted basis immediately after acquisition (UBIA) of these assets?
1) $29,274
2) $112,149
3) $132,774
4) $139,649
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