Answer:
The cost basis of the machine is $42,397
Explanation:
As the purchase price of the machine is $42397 , so the cost basis of the machine will be $42,397
The term Cost basis is the original value of an asset for tax purposes, usually the purchase price
. In the United States tax law, Cost basis is the original cost of property. In this case the Cost basis exclude the Overhaul costing, installation cost as well as special acquisition fee as well
