Answer:
$671,300
Explanation:
The calculation of adjusted basis in the building is shown below:-
Adjusted basis = Original cost of the property + Cost of capital improvements - Depreciation claimed
= $750,000 + $50,000 - $128,700
= $800,000 - $128,700
= $671,300
Therefore for computing the adjusted basis we simply add original cost of the property with cost of capital improvements and deduct depreciation claimed.
Compounding is known as the act of leaving your money and other accumulated interest in an investment for more than one period.
<h3>How do you explain the word compounding?</h3>
Compounding is known to be the method used when an interest is credited to a specific existing principal amount and also to interest already paid.
It is the act of letting go of one's money and other compiled interest in an investment for a long time.
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According to the case, the use of Ph.D. on the ads for hair care products by John Smith is considered an example of the fallacy of inappropriate expertise.
The provided statement is true.
<h3>What is a fallacy?</h3>
A fallacy is an unlawful statement that is used by someone in stating any reasoning or argument which can even be harmful to society.
In the given case, John is having Ph.D. degree in the archaeology field, and his attempt to use the word Ph.D. on the haircare goods marketed by him would be a fallacy in respect of inappropriate expertise. The fallacy could be the use of the Ph.D. word on ads and the inappropriate expertise is that he doesn't have any knowledge regarding skincare and dermatology area.
Therefore, this may create a harmful effect on the individuals who are buying them as it is not authorized by a dermatologist.
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