Padre Inc purchased a used piece of heavy equipment for
Padre, Inc., purchased a used piece of heavy equipment for $25,000. Delivery of the equipment to Padre’s business site cost $750. Expenditures to recondition the equipment and prepare it for use totaled $2,230. The maintenance for the first year Padre owned the equipment was $1,200.
Determine the cost that is the basis for calculating annual depreciation on the equipment.

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