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Jordan paid $60,000 for equipment two years ago and has claimed depreciation deductions of $31,200 for the two years. The cost of repairs during the same time period was $2,000 while a major overhaul which extended the life of the equipment cost $14,000. What is Jordan's basis in the equipment at the end of the two-year period?

A) $28,800

B) $30,800

C) $42,800

D) $60,000

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Accounting Basics, Accounting

Category:- Accounting Basics
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