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  3. in 2020, a business suffered the theft of a truck.

In 2020, a business suffered the theft of a truck. Before the theft, the fair...

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Accounting

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In 2020, a business suffered the theft of a truck. Before the theft, the fair market value of the truck was $25,000. The adjusted basis of the truck is $18,000 and the insurance reimbursement is $11,000. What is the amount of the business casualty loss

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