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Talbot purchases business machinery for a price of $ 1 0 0 , 0 0 0 . Talbot pays the seller $ 2 0 ,

Talbot purchases business machinery for a price of $

100, 000 .

Talbot pays the seller $

20, 000

in cash and finances the rest by giving the seller a note for $

80, 000 .

What is Talbot

s initial basis in this machinery?

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