Nicholas owns a laptop computer that was stolen. The laptop cost $1000 when it was purchased five

Question:

Nicholas owns a laptop computer that was stolen. The laptop cost $1000 when it was purchased five years ago. A similar laptop computer today can be purchased for $500. Assuming that the laptop was 50 percent depreciated at the time the theft occurred, what is the actual cash value of the loss?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Principles Of Risk Management And Insurance

ISBN: 399

12th Edition

Authors: George E. Rejda, Michael McNamara

Question Posted: