Capital Gain Or Loss Calculation
A company purchased 10 computers last year for $240 each. After spending a total of $1,500 on improvements and claiming $700 in depreciation, the company sold the 10 computers for a total of $1,600. What is the company's capital gain or loss?
A
$1,600 capital loss
B
$2,300 capital loss
C
$2,300 capital gain
D
$1,600 capital gain