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What is koch adjusted basis in machine two after exchange

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Reference no: EM132877267

Problem 1: Koch traded machine 1 for machine 2 when the fair market value of both machines was $50,000. Koch originally purchased machine 1 for $75,800 and machine 1's adjusted basis was $40,400 at the time of the exchange. Machine 2's seller purchased it for $64,600 and machine 2's adjusted basis was $55,400 at the time of the exchange. What is Koch's adjusted basis in machine 2 after the exchange?

Multiple Choice

A- $55,400.
B- None of the choices are correct.
C- $50,000.
D- $75,800.
E- $40,400.

Reference no: EM132877267

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