MACRS (LO.6) In each of the following situations, determine the depreciable basis of the asset (before considering Section 179 election) Rudy inherits his father's pickup truck. The truck is immediately placed in service in Rudy's delivery a. business. The fair market value of the truck at the date of Rudy's father's death is $8.000, and the value on the alternate valuation date is $8,500. The executor of the estate does not make any special elections. The truck originally cost Rudy's father $15,000. Maline purchases an office building to use as the main office of her mail order business. She pays the b. seller $100,000 in cash. In addition, she gives the seller her personal note for $250,000 plus 10 acres of real estate. At the date of the transaction, the real estate, which cost $20,000, is worth $50,000. Property tax records show the land is assessed at $10,000 and the building is assessed at $40,000. Steve owns a computer that he bought for $3,000. The computer was used for personal family c. activities. When he starts his business, Steve takes the computer to his new office. The computer is worth $500 when he begins using it in his business. Martha's aunt Mabel gives her a used table, which had been stored in Mabel's garage, to use in the conference room in Martha's office. Mabel paid $1,200 for the table several years ago, and it is worth only $700 at the date of the gift. Mabel does not pay any gift tax on the transfer.