Jordan paid $30,000 for equipment two years ago and has claimed total depreciation deductions of $15,600 for the two years. The cost of repairs during the same time period was $2,000 while a major overhaul which extended the life of the equipment cost $7,000. What is Jordan's adjusted basis in the equipment at the end of the two-year period

$21400

Explanation:

Cost of equipment = $30,000

Depreciation = $15600

Cost of repairs = $2000

Overhaul = $7000

Jordan's adjusted basis in the equipment at the end of the two-year period will be:

= Equipment cost - Depreciation + Overhaul

= $30000 - $15600 + $7000

= $21,400

the correct answer is:

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it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.

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