complete it

Complete the taxpayer's current adjusted basis in the property described for each of the following situations using the information below. Enter the appropriate amounts in the designated cells below. Enter all amounts as positive values. If no entry is necessary, enter a zero (0). Situation Basis 1. Peete, Inc., purchased machinery to be used for the production of their inventory. The purchase price was $97,000, appraisal fees were $1,100, maintenance costs were $5,400, and sales tax was $4,400. ay i] i] 2. Katherine acquired an office building to use in her business. The purchase price was $1,200,000, which she paid for with $200,000 cash and a $1,000,000 note payable. She also paid $12,000 to rent the building from the previous owner until the deal closed and $8,600 in attorney fees. 3. On January 2, 2024, Dylan inherited two vans upon his father's death. At the date of his death, Dylan's father had a basis of $23,000 in the vans, and the fair value of the vans was $25,200. Dylan used the vans in his business throughout the year, claiming $3,400 of depreciation, the maximum amount allowable, for 2024. Dylan did not use an alternative valuation method. =y i] Go 4. Beatrice received some antique jewelry as a gift from her mother. At the date of the gift, the fair market value of the jewelry was $10,000 and Beatrice's mother's basis in the f id