Clare Company purchased a machine for $30,000; the seller is holding the note. Clare Company paid $3,300
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Clare Company purchased a machine for $30,000; the seller is holding the note. Clare Company paid $3,300 for improvements to extend the life of the machine. Clare Company has deducted depreciation on the machine for 3 years totaling $18,000. Clare Company owes $12,000 to the seller. What is Clare Company's adjusted basis in the machine? Group of answer choices
$12,000
$15,300
$33,300
$51,300
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