1 Jose purchased a delivery van for his business through an online auction. His winning bid for the van was $41,750. In addition, Jose incurred the following expenses before using the van: shipping costs of $960; paint to match the other fleet vehicles at a cost of $1,100; registration costs of $3,453, which included $3,200 of sales tax and an annual registration fee of $253; wash and detailing for $56; and an engine tune-up for $309. 20 points What is Jose's cost basis for the delivery van? eBook Cost basis $ 51,081 Print References 2 Emily purchased a building to store inventory for her business. The purchase price was $945,000. Emily also paid legal fees of $355 to acquire the building. In March, Emily incurred $2,000 to repair minor leaks in the roof (from storm damage earlier in the month) and $6,900 to make the interior suitable for her finished goods. 20 points What is Emily's cost basis in the new building? Skipped Cost basis eBook Hint Print 3 Meg O'Brien received a gift some small-scale jewelry manufacturing equipment that her father had used for personal purposes for many years. Her father originally purchased the equipment for $1,570. Because the equipment is out of production and no longer available, the property is currently worth $4,250. Meg has decided to begin a new jewelry manufacturing trade or business. 20 points What is her depreciable basis for depreciating the equipment? Depreciable basis eBook Print References 4 Required information [The following information applies to the questions displayed below.) Part 1 of 2 At the beginning of the current year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: 10 points eBook Asset Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) Date Acquired 3/23 5/12 9/17 10/11 10/11 Cost Basis $ 8,800 10,800 10,000 308,000 118,000 Hint Print References Assuming Poplock does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) a. What is Poplock's year 1 depreciation deduction for each asset? Asset Depreciation Deduction Computer equipment Dog-grooming furniture