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Michelle purchased her home for $150,000 and subsequently added a garage that cost $25,000, a new porch that cost $5,000, and repaired the plumbing that cost $1,000. Michelle’s adjusted basis in the home is:

a. $150,000

b. $151,000

c. $180,000

d. $181,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M960665

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