During 2020, Tommy's home was burglarized. The home was in a Presidentially declared disaster area. Tommy had the following items stolen. -A block of securities worth $20,000. Tommy purchased the securities three years ago for $16,000. -A block of securities worth $30,000. Tommy purchased the securities for $24,000 two years ago. Tommy's homeowners policy had an $50,000 deductible clause for thefts. How much is Tommy's theft loss --prior to "floors" or "ceilings" based on AGI--for 2020? a. $50,000 b. $32,000 c. $40,000 d. None of these