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A manufacturing company is considering upgrading its universal milling machine. The book value of the current machine is $2500; however, the company is able to

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A manufacturing company is considering upgrading its universal milling machine. The book value of the current machine is $2500; however, the company is able to obtain a $2000 credit when it trades this machine for a new one. The new milling machine costs $10,000 plus an additional $1500 for delivery and installation. Use this information to answer the following question. Question 18 7 pts a) What is the cost basis for the new machine

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