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Kelvin purchased a new machine for use in his business. He incurred the following costs with the purchase: $ 2 , 0 0 0 cash

Kelvin purchased a new machine for use in his business. He incurred the following costs with the purchase: $2,000 cash paid, $11,000 financed, a $400 delivery charge, and a $300 installation charge.  Calculate. Kelvin's basis in the machine.

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