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Nora bought the equipment in 2018 for $180,000. Depreciation of $69,804 has been taken on the equipment. Nora performed routine maintenance on the equipment over
Nora bought the equipment in 2018 for $180,000. Depreciation of $69,804 has been taken on the equipment. Nora performed routine maintenance on the equipment over the years of $9,000 and added a hydraulic lift to the equipment for $14,000. Compute the amount realized. Compute Noras adjusted basis in the equipment.
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