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Frank Fleming recently purchased some new equipment that he plans to use in his business. He paid $43,000 for the equipment. He also paid $2,500

Frank Fleming recently purchased some new

equipment that he plans to use in his business. He paid $43,000 for the equipment. He also paid $2,500 in delivery and installation costs, $1,600 in legal fees, and $3,800 in sales taxes. What is Frank's basis in this equipment?

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