Riley operates a plumbing business, and this year the three-year-old van he used in the business was destroyed in a traffic accident. The van was originally purchased for $24,000, and the adjusted basis was $5,300 at the time of the accident. Although the van was worth $6,380 at the time of accident, insurance only paid Riley $1,700 for the loss. What is the amount of Riley's cosualty loss deduction