Question: Problem 4 (10 pts) A tractor with an adjusted basis (from depreciation) of $60,000 is sold for $55,000 and a new tractor is purchased with

Problem 4 (10 pts) A tractor with an adjusted basis (from depreciation) of $60,000 is sold for $55,000 and a new tractor is purchased with a cash payment of $350,000. These are two separate transactions. What is the tax depreciation basis of the new tractor

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