Question
Rhoda owns an electronics store that is burglarized during the current year. The burglars destroy the point-of-sale terminal and steal $335 from the cash drawer.
Rhoda owns an electronics store that is burglarized during the current year. The burglars destroy the point-of-sale terminal and steal $335 from the cash drawer. The point-of-sale terminal was purchased for $7,540, and its adjusted basis is $3,700. The insurance adjuster estimates that the fair market value of a similar point-of-sale terminal is $6,050. The burglars also steal stereo equipment costing $4,195 that has a retail value of $6,870. In breaking into the store, the burglars break a large glass door that costs Rhoda $455 to replace.
Rhoda's deductible loss if the insurance company reimburses her $4,755 is ?
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