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/quizzes/274376/take Question 2 6 pts (CO F) Tommy Inc. purchased a machine for $18,000; the seller is holding the note. Tommy Inc. paid $3,000

/quizzes/274376/take Question 2 6 pts (CO F) Tommy Inc. purchased a machine for $18,000; the seller is holding the note. Tommy Inc. paid $3,000 for improvements to extend the life of the machine. Tommy Inc. has deducted depreciation on the machine for 3 years totaling $6,000. Tommy Inc. still owes $7,000 to the seller. What is Tommy Inc.'s adjusted basis in the machine? $12.000 $15,000 $14,000 $8.000

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