Jose traded a photocopier with fair market value of $50,000 for twenty laptops, Jose originally...
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Accounting
Jose traded a photocopier with fair market value of $50,000 for twenty laptops, Jose originally purchased the photocopier for $75,000 and the photocopier adjusted basis was $40,000 at the time of the exchange. The seller of the laptops purchased them for $65,000 and the laptops adjusted basis was $55,000 a the time of the exchange. What is Jose adjusted basis in the laptops after the exchange? $40,000 $50,000 $55,000 $75,000 None
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