Echota, LLC purchased equipment on May 16th of the current year. The relevant costs are...
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Echota, LLC purchased equipment on May 16th of the current year. The relevant costs are as follows: equipment for $13,000, $1,073 for sales tax, $295 for the annual tune-up, $395 shipping, $500 for installation, $635 for property taxes (an annual tax on business property), and $85 for delivery insurance. What is Echota's tax basis for the machinery?
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