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Amy purchased an office building for her business several years ago for $580,000 (including $100,000...

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Accounting

Amy purchased an office building for her business several years ago for $580,000 (including $100,000 for land), and the sales tax is $10,280. Legal fees are $5,000. She paid $25,800 for some improvements made for the building before placing the building in service. She also paid $3,580 in total for some minor repair and maintenance. During the previous years, suppose the accumulated depreciation $48,500. What is the adjusted basis of the building for the current year?

a) $480,000

b) $472,580

c) $572,580

d) $576,160

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