What is maria incorporateds adjusted basis in the machine, Accounting Basics

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What is maria incorporateds adjusted basis in the machine

Problem

Maria Incorporated purchased a machine for $22,000; the seller is holding the note. Maria Incorporated paid $2,000 for improvements to extend the life of the machine. Maria Incorporated has deducted depreciation on the machine for 2 years totaling $8,800. Maria Incorporated still owes $11,000 to the seller. What is Maria Incorporated's adjusted basis in the machine?

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Accounting Basics: What is maria incorporateds adjusted basis in the machine

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Accounting Basics: What is maria incorporateds adjusted basis in the machine

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