A hurricane damages your roadside vegetable stand. You claim a deductible loss of $15,000. Insurance...
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Accounting
A hurricane damages your roadside vegetable stand. You claim a deductible loss of $15,000. Insurance paid $10,000. You repair the damage at a cost of $15,000. You add an extra 400 square feet of space at a cost of $12,000. What is the adjusted basis if the basis of the vegetable stand was $80,000 prior to the hurricane?
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