Derrick owns a farm in eastern North Carolina. A hurricane hit the area $($a national disaster area was declared$)$ and destroyed a farm building and some farm equipment and damaged a barn.

$\backslash$table$[[,$Adjusted,FMV before,FMV after,Insurance$],[$Item$,$Basis,Damage,Damage,Proceeds$],[$Building$,$$$119,100,$$$163,500,$$$0,$$$7,700$