Nicko Corporation (a calendar-year corporation) purchased a new machine (7-year property) in July 2014 for $20,000. Nicko

Question:

Nicko (a calendar-year purchased a new machine (7-year property) in July 2014 for $20,000. Nicko did not elect Section 179 for this asset but did claim 50 percent bonus depreciation. In November 2017, Nicko sells the machine. What is the machine's adjusted basis at the date of sale?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...