School libraries will buy books in the year the books are published. Hence, they cost a bit more. If the library spent $16 for that book, that's the replacement cost. Take into account they have to recatalog it, rebarcode it, and take the other copy out of circulation, and $16 doesn't seem to be so much. The library I worked at would charge a minimum of $45 for a lost book even if the book cost less. It was the only way to cover costs. Our library lost thousands of dollars worth of books each year. That represented hundreds of hours of work to replace them, not to mention the cost of the book itself.
Here's a thought; how about having your daughter do chores around the house to "earn" the $16 it's going to cost you to replace the book she lost. Might be a lesson there to be learned, eh?