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

Jose purchased a delivery van for his business through an online auction. His winning bid for the van was $$43,750.$ In addition, Jose incurred the following expenses before using the van: shipping costs of $$1,040$; paint to match the other fleet vehicles at a cost of $$1,660$; registration costs of $$3,889,$ which included $$3,600$ of sales tax and an annual registration fee of $$289$; wash and detailing for $$145$; and an engine tune$-$up for $$357.$

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

Cost basis