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can you please solve this with an explanation 15) Bill operates an electrician business, and this year the four-year-old van Bill used in the business
can you please solve this with an explanation
15) Bill operates an electrician business, and this year the four-year-old van Bill used in the business was destroyed in a traffic accident. The van was originally purchased for $21,400 and the adjusted basis was $5,625 at the time of the accident. Although the van was worth $6,140 at the time of the accident, insurance only paid Shelton $1,375 for the loss. What is the amount of Bill's casualty loss deduction? B. $5,195 D. $15,260 I I A $4,250. C. $5,625 E. $6,140Step by Step Solution
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