Alfhild bought some metal-working equipment for $5,000 upfront and an agreement to pay $9,000 over...
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Accounting
Alfhild bought some metal-working equipment for $5,000 upfront and an agreement to pay $9,000 over the next few years. She paid Liam $2,000 to install the equipment in her workshop. As of January 1 of this year, she had paid off $3,000 of the $9,000 owed. Also, she had taken $3,000 of depreciation deductions. What was Alfhilds adjusted basis on that date?
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