Cheryl owned six horses that she and her family used for riding and occasionally showing in hunter-jumper competitions. At the beginning of May, one of the horses showed signs of severe illness and was diagnosed with equine encephalitis. She was required to destroy all of her horses, none of which was insured. The horses had been purchased for $23,000 but had a current value of $45,000. What type of a loss does Cheryl have on these horses?