Joseph contributed $22,000 in cash and equipment with a tax basis of $5,000 and a fair market value of $11,000 to berry hill partnership in exchange for a partnership interest. a) what is joseph’s tax basis in his partnership interest? b) what is berry hill’s basis in the equipment? spilker, brian; spilker, brian. mcgraw-hill's taxation of individuals and business entities 2020 edition (page 20-40). mcgraw-hill higher education. kindle edition.

Precision dyes is analyzing two machines to determine which one it should purchase. the company requires a rate of return of 15 percent and uses straight-line depreciation to a zero book value over the life of its equipment. ignore bonus depreciation. machine a has a cost of $462,000, annual aftertax cash outflows of $46,200, and a four-year life. machine b costs $898,000, has annual aftertax cash outflows of $16,500, and has a seven-year life. whichever machine is purchased will be replaced at the end of its useful life. which machine should the company purchase and how much less is that machine's eac as compared to the other machine's

After testing its water, a city water department issues a report to the related citizens, noting what chemicals have been identified, their doses, and the estimated risks of exposure at these levels. this report represents a type of

After hearing a knock at your front door, you are surprised to see the prize patrol from a large, well-known magazine subscription company. it has arrived with the good news that you are the big winner, having won $21 million. you have three options.(a) receive $1.05 million per year for the next 20 years.(b) have $8.25 million today.(c) have $2.25 million today and receive $750,000 for each of the next 20 years.your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.