Mackie's Vegetable Farm purchased a new tractor for $15,000. Mackie was given a $150 discount...
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Mackie's Vegetable Farm purchased a new tractor for $15,000. Mackie was given a $150 discount for being a repeat customer. Taxes on the tractor amounted to $1,050 and delivery charges were $200. Immediately upon receipt of the tractor, Mackie paid $500 to have his farm's logo painted on the side. Maintenance on the tractor for the first year amounted to $300. What cost of the asset should be used as a basis for determining depreciation.
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