Problem $10-38($LO $10-1)($Static$)$

Jose purchased a delivery van for his business through an online auction. His winning bid for the van was $$24,500.$ In addition, Jose

incurred the following expenses before using the van: shipping costs of $$650$; paint to match the other fleet vehicles at a cost of

$$1,000$; registration costs of $$3,200,$ which included $$3,000$ of sales tax and an annual registration fee of $$200$; wash and detailing for

$$50$; and an engine tune$-$up for $$250.$

What is Jose's cost basis for the delivery van?

Cost basis