Please show work. Wyatt, Inc. owns a delivery van which he purchased for $50,000. After depreciation of $30,000 had been deducted, the van was traded-in for a new van that cost $55,000. Wyatt was required to pay the car dealer $25,000 in cash as part of the transaction. What is Wyatt’s basis for the new van? Solution Answer: Calculation of the Wyatt\'s basis for the new van: New van cost=$55000 Less: Dep=$30000 Cash pay=$25000.