Don operates a taxi business, and this year one of his taxis was damaged in a traffic accident. The land was originally purchased for $32,000 and the adjusted basis was $2.000 at the time of the accident. The tax was repaired at a cost of $2,500 and insurance reimbursed Don $700 of this cost. What is the amount of Don's casualty loss deduction? Multiple Choice Don is not eligible for a casualty loss deduction. C o o $2,500. o $2,000. o $1,300