12 Required information Part 1 of 3 The following information applies to the questions displayed below This year Army purchased $3,700 of equipment for use in her business. However, the machine was damaged in a traffic accident while Amy was transporting the equipment to her business. Note that because Amy did not place the equipment nto service during the year, she does not claim amy depreciation expense for the equipment a. After the accident Amy had the choice of repairing the equipment for $2,740 or selling the equipment to a junk shop for $400 Amy sold the equipment. What amount can Amy deduct for the loss of the equipment? Prev 12 13 14 of 35 Next > MacBook Air