In year 0, Javens, Inc. sold machinery with a fair market valueof $350,000 to Chris. The machinery??s original basis was $317,000and Javens??s accumulated depreciation on

In year 0, Javens, Inc. sold machinery with a fair market valueof $350,000 to Chris. The machineryâ??s original basis was $317,000and Javensâ??s accumulated depreciation on the machinery was $50,000 2 answers