In the Current Year,Keyaki Construction Company Exchanged an Old Truck,which

question 108

Multiple Choice

In the current year,Keyaki Construction Company exchanged an old truck,which cost $53,000 and had accumulated depreciation of $16,000,for a new truck having a fair market value of $65,000.In connection with the exchange,Keyaki paid $28,000 in cash.What is the tax basis of the new truck?

• A)$37,000
• B)$54,000
• C)$65,000
• D)$69,000
• E)None of the above

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Definitions:

Long-Term Potentiation

An enduring increase in signaling efficiency between neurons, believed to be a cellular mechanism underlying learning and memory.

Eclectic Therapy

A therapeutic approach that combines techniques from different therapeutic traditions to best meet the needs of the individual client.

Client-Centered

A therapeutic approach emphasizing the importance of understanding the client's perspective and fostering a supportive environment that facilitates self-discovery and growth.

Humanistic

Relating to a psychological perspective that emphasizes the study of the whole person and the uniqueness of human experience and potential.