24. On January 1, a store had inventory of $48,000. January purchases were $46,000 and January sales were $95,000. On February 1 a fire destroyed most of the inventory. The rate of gross profit was 25% of sales. Merchandise with a selling price of $5.000 remained undamaged after the fire. Compute the amount of the fire loss, assuming the store had no insurance coverage (5 points)