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A storm swept through the wine cellar of a restaurant, completely destroying very expensive wines worth $900,000. The adjusted basis of the wines was

A storm swept through the wine cellar of a restaurant, completely destroying very expensive wines worth $900,000. The adjusted basis of the wines was $500,000. The pending insurance company claim was for $450,000. What deduction, if any, can the restaurant take in the year of the casualty? O A. $0 O B. $50,000 O C. $400,000 O D. $450,000

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