Curts Consulting Company purchased a laptop computer on February 15, 2015 for $2,000. The laptop was destroyed
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Question:
Curts Consulting Company purchased a laptop computer on February 15, 2015 for $2,000. The laptop was destroyed on April 30, 2015 and Curts Consulting received $500 in compensation from the insurance company. It was the only asset in the CCA Class as all other computer equipment is leased. The effect on Net Income For Tax Purposes for the year ending December 31, 2015 is:
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