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Property and Equipment, Net
 6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net PROPERTY AND EQUIPMENT, NET
Property and equipment, net consisted of the following at June 30, 2024 and December 31, 2023:
June 30, 2024December 31, 2023
(In thousands)
Land$2,582 $2,582 
Building9,599 9,599 
Software in progress17,530 14,450 
Computer hardware and software10,312 10,717 
Office furniture and equipment1,484 1,484 
Tenant and leasehold improvements10,893 10,876 
Vehicle fleet515 515 
Total, at cost52,915 50,223 
Less: accumulated depreciation and amortization(18,405)(17,005)
Property and equipment, net$34,510 $33,218 
The Company has capitalized certain costs related to a new policy, billing and claims system which is anticipated to be placed into service later in 2025.
Depreciation and amortization expense for property and equipment was approximately $718,800 and $566,000 for the three months ended June 30, 2024 and 2023, respectively. Depreciation and amortization expense for property and equipment was approximately $1.4 million and $1.1 million for the six months ended June 30, 2024 and 2023, respectively. The Company owns real estate consisting of 13 acres of land, two buildings with a gross area of 88,378 square feet and a parking garage. The carrying value of the property is approximately $9.6 million with accumulated depreciation of approximately $2.6 million at June 30, 2024.