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Mr. Bowser purchased a business building with a fair market value of $60,000 and a business auto with a fair market value of $10,000. Both

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Mr. Bowser purchased a business building with a fair market value of $60,000 and a business auto with a fair market value of $10,000. Both were acquired in a bargain purchase for a total cost of $49,000. What is the basis of the auto? $5,000 $7.000 $10,000 $49,000

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