Ann Jones uses a dry-cleaning machine in her business, and it was completely destroyed by fire. At the time of the fire, the adjusted basis was $20,000 and its fair market value was $18,000. How much is Ann's loss

$20,000.

Explanation:

The adjusted basis value and fair market value are used to determine an asset's worth.

The adjusted basis value simply describes the amount a property owner has invested in his or her asset. It equals the cost of acquiring the property plus the cost of maintaining it.

Fair market value of a business or asset is the general calculation to determine the value of an asset if it were to be sold.

A casualty is a sudden, unexpected, or unusual loss or damage to one's property. Examples are: hurricane, fire, tornadoes, flood, storm, car accidents e.t.c.

In case of a casualty, where the property was totally destroyed, the adjusted basis value will be calculated or used as the owner's loss.

Therefore, in Ann's case, where her business drying cleaning machine was destroyed by fire, her loss is her adjusted basis value which is $20,000.

explore some of these tourist attractions

the metropolitan museum of art. source: anton_ivanov / shutterstock.

central park. source: gagliardiphotography / shutterstock.

national 9/11 memorial and museum.

empire state building.

statue of liberty.

the museum of modern art (moma)

rockefeller center.

brooklyn bridge.

explanation:

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.