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1) A new machine was purchased for $275,000 by trading in a similar machine that had a boolk value of $60,000, and the trade-in allowance

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1) A new machine was purchased for $275,000 by trading in a similar machine that had a boolk value of $60,000, and the trade-in allowance was $50,000. Transportation and installation costs were $4,000. What is the cost basis of the new asset for depreciation purposes

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