Sebastian purchases two pieces of equipment for $129,000. Appraisals of the equipment indicate that the fair market value of the first piece of equipment is $90,300 and that of the second piece of equipment is $141,900. What is Sebastian's basis in these two assets

In 2017, "a public university was awarded a federal reimbursement grant" of $18 million to carry out research. of this, $12 million was intended to cover direct costs and $6 million to cover overhead. in a particular year, the university incurred $4 million in allowable direct costs and received $3.4 million from the federal government. it expected to incur the remaining costs and collect the remaining balance in 2018. for 2017 it should recognize revenues from the grant of